The home of later life lending

Protecting consumers, Setting standards, uniting our members

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Later life journey · Calculators · Consumer standards

For Consumers

For consumers and families

Thinking about releasing equity from your home? Everything in this part of the page is written for you. Start with the guidance and use the tools in your own time.

Consumer guidance Frequently asked questions

What is Later Life Lending

Later life lending can help you unlock some of the value in your home, giving you greater financial flexibility in later life.

51%

of UK households are expected to rely on the value of their home to support spending in later life

Learn about your options

Products

Later life lending is not one-size-fits-all. There are several different products available. The right one for you depends on your needs, income, age, and future plans.

Lifetime mortgage

Borrow against your home while keeping full ownership. Interest can be paid monthly or added to the loan, with repayment usually made when you pass away or move into care.

Explore Lifetime mortgage

Home reversion

Sell part or all of your home in return for a lump sum or regular income. You can stay in your property for life, usually rent-free, while keeping the remaining share for your estate.

Explore Home reversion

Retirement Mortgages

A standard residential mortgage designed to continue into retirement. You make regular repayments, and the loan is repaid by an agreed date subject to affordability.

Explore Retirement Mortgages

Retirement Interest-Only Mortgages

Pay the interest each month while the loan amount stays the same. The mortgage balance is repaid when you pass away or move into long-term care.

Explore Retirement Interest-Only Mortgages

Your later life lending journey

See how the process works
  1. Step 1

    Explore your options

    Learn what later life lending can and cannot do, and whether another route suits you better.

  2. Step 2

    Take professional advice

    A qualified adviser checks suitability and recommends a product only if it is right for you.

  3. Step 3

    Submit an application

    Your adviser submits to your chosen provider and keeps you informed at every stage.

  4. Step 4

    Receive legal advice

    Your own solicitor explains the agreement and confirms you understand it, free from pressure.

  5. Step 5

    Completion

    Funds are released, and our Standards keep protecting you for the life of the plan.

Two friends having tea together

For family members

Supporting a parent or partner through the decision?

Many people go through this with family beside them. We have plain English resources written for you, covering the questions to ask, what happens at each step, and how to take part in the conversation with advisers.

Resources for families

Setting Standards for 35 years

Our Standards require members to act with professionalism and integrity, providing advice and support that is trusted, transparent and tailored to individual needs.

Standards for Consumers Standards for Professionals

Six lifetime mortgage product Standards

Our core lifetime mortgage product Standards offer six protections. Select a Standard to read its full description, including the terms and conditions.

  1. Lifetime mortgage product Standard

    Fixed or capped rates

    Interest rates must be either fixed or, if variable, have a fixed cap. Both of which must be fixed for the life of the loan.

     

     

     

     

     

     

     

     

     

     

     

     

  2. Lifetime mortgage product Standard

    Home for Life

    Customers must have the right to live in their property for the remainder of their life, or until they permanently move into care. For this right to apply the property must remain their main residence for the life of the mortgage with all terms and conditions being maintained.

     

     

     

     

     

     

     

     

     

     

     

     

  3. Lifetime mortgage product Standard

    Option to move home

    Customers must be allowed the opportunity to move to a suitable alternative property and transfer their lifetime mortgage (subject to lending criteria at the time of move) as long as they abide by the terms and conditions of their contract.

     

     

     

     

     

     

     

     

     

     

     

     

  4. Lifetime mortgage product Standard

    No Negative Equity Guarantee

    The product must have a NNEG so that, provided the secured property is sold for the best price reasonably obtainable and the terms and conditions of the loan have been met, the borrower or estate will never owe more than the property is worth, after deduction of reasonable sales costs.

     

     

     

     

     

     

     

     

     

     

     

     

  5. Lifetime mortgage product Standard

    Ability to make repayments

    Customers must have the ability to make repayments without incurring any charges, subject to lending criteria of the provider.

     

     

     

     

     

     

     

     

     

     

     

     

  6. Lifetime mortgage product Standard

    Long Term Care

    If a customer needs to move permanently into long-term care—whether in a care home (commercial, NHS, or local authority) or with relatives providing care—any early repayment charge will be waived by the Lender upon receipt of a medical practitioner’s certificate and the terms and conditions of the loan have been met.

     

     

     

     

     

     

     

     

     

     

     

     

What your adviser does

A qualified, regulated adviser checks whether equity release is right for you at all, and which product fits your circumstances. Advice is required before any plan can proceed.

What your solicitor does

You appoint your own independent solicitor, who explains the legal agreement and confirms you are entering it freely and with full understanding.

Explore your options, in your own time

Two free tools to help you think before you speak to anyone. No sign up, no sales calls.

Later Life Lending Options Checker

Answer a few short questions about your circumstances and goals, and see which routes could be worth exploring, from downsizing to a lifetime mortgage.

Try the options checker

Compound Interest Calculator

See how interest on a lifetime mortgage could build over time.

Open the calculator

Illustrative results only

Results from these tools are illustrative and do not constitute financial advice. Always speak to a qualified adviser before making any decision about your home.

Learn and get support

Everything we publish for consumers is written in plain English and free to read.

Consumer knowledge hub and plain-English guidanceGuides and checklists for every stage. Key terms and documents, without jargon.Family resourcesHow to support someone you love.Consumer CharterProtections and guarantees you can expect from a Council member.Guide to Later Life LendingDownload the Council’s guide to later life lending.Case StudiesCase studies on using equity release.

Questions people ask us most

Choose a question to read the answer

With a lifetime mortgage, the most common form of equity release, you remain the owner of your home. The loan and interest are usually repaid from the sale of the property when you die or move into long term care.

Every lifetime mortgage that meets our Standards includes a No Negative Equity Guarantee. Provided the property is sold for the best price reasonably obtainable and the loan’s terms and conditions have been met, you or your estate will not owe more than the property is worth after reasonable sales costs are deducted.

Yes. Our Standards give you the right to transfer your plan to a suitable alternative property, provided it is acceptable to your provider as continuing security for the loan.

Yes, and it must be your own independent solicitor. They explain the legal agreement in person and confirm that you understand it and are entering it freely.

View all FAQs

Member directory

Find a qualified member near you

Every member listed has committed to upholding our Standards and Consumer Charter

  • Advisers
  • Solicitors
  • Providers
Advanced search

Choose a member type, then search.

For Professionals

For advisers, members and industry

Working in later life lending? Standards, market data, regulatory updates and events live with our professional resources. Members can sign in to the Member Hub from there.

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Council membership for professionals

Become a member means joining the Equity Release Council as a professional working in later life lending. Consumers do not need to become a member. Become a Council member

96%

of our members say they would recommend membership to a colleague

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Latest news

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October 26, 2026

Equity release market remains resilient as customer activity edges higher

Total lending reaches £591m, down 1% on the previous quarter New plan numbers rise 1% to 5,357, remaining…

Read more

October 6, 2026

Later Life Lending Summit North targets the wider mortgage market

Equity Release Council and AMI put the changing customer at heart of Summit North Summit North to bring…

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October 1, 2026

Brilliant Solutions joins the Equity Release Council

Brilliant Solutions has become the latest firm to join the Equity Release Council, bringing its experience of working…

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