What is the best equity release product in 2020? | moneyfacts.co.uk

nigel woollsey

Nigel Woollsey

Online Writer
Published: 29/01/2020

How do we decide which equity release products get the best rating?

For over 30 years, Moneyfacts has been helping people to find the best financial products. Every year our in-house money experts cast their eye over all the equity release products available to the UK market, using their in-depth knowledge to determine those that truly represent the best solutions.

Our impartial equity release ratings look at the most important features, charges and benefits of each product. For equity release, we evaluate over 35 individual elements to determine which products stand out from the rest of the pack.

Below, we’ve detailed which elements we look for when it comes to our whole of market assessment for equity release products.

How does a star rating help me find the best equity release product?

Even for financially experienced and astute customers, the range and depth of equity release products on the market can seem intimidating. Our simple star rating system allows customers to benefit from our expert knowledge and understanding – making it easy to determine which products have the best features, charges and benefits. Consumers can feel confident that the products that attain a Four or Five Star Moneyfacts Rating offer the most comprehensive range of standout features.

Which elements of the equity release product do we look at?

A considerable number of features are considered for the final rating. These include:

Flexibility
• Minimum and maximum ages
• Minimum and maximum loan-to-values
• Minimum and maximum advances
• Lump sum options
• Drawdown options
• Regular income facility
• Interest roll-up options
• Portability
• Ability to service debt
• Partial payments


Features
• Rate type
• Interest charging frequency
• Equity Release Council membership
• Negative equity guarantees
• Early repayment charges
• Valuation/survey fees
• Cashback
• Legal fees
• Downsizing protection.

Equity release - Five stars

  • Aviva - Enhanced Lifestyle Flexible Option Lifetime Mortgage
  • Aviva - Lifestyle Flexible Option Lifetime Mortgage
  • Canada Life - Capital Select Gold
  • Canada Life - Capital Select Gold (Cashback)
  • Canada Life - Capital Select Gold (Flexible)
  • Canada Life - Capital Select Gold Plus
  • Canada Life - Capital Select Gold Plus (Cashback)
  • Canada Life - Capital Select Gold Plus (Flexible)
  • Canada Life - Capital Select Lite
  • Canada Life - Capital Select Lite (Cashback)
  • Canada Life - Capital Select Lite (Flexible)
  • Canada Life - Capital Select Platinum
  • Canada Life - Capital Select Platinum (Cashback)
  • Canada Life - Capital Select Platinum (Flexible)
  • Canada Life - Capital Select Platinum Plus
  • Canada Life - Capital Select Platinum Plus (Cashback)
  • Canada Life - Capital Select Platinum Plus (Flexible)
  • Canada Life - Capital Select Super Lite (Flexible)
  • Canada Life - Interest Select Gold
  • Canada Life - Interest Select Gold (Cashback)
  • Canada Life - Interest Select Gold (Flexible)
  • Canada Life - Interest Select Platinum
  • Canada Life - Interest Select Platinum (Cashback)
  • Canada Life - Interest Select Platinum (Flexible)
  • Canada Life - Lifestyle Gold (Flexible)
  • Canada Life - Lifestyle Gold Plus (Flexible)
  • Canada Life - Lifestyle Lite (Flexible)
  • Canada Life - Lifestyle Platinum (Flexible)
  • Canada Life - Voluntary Select Gold
  • Canada Life - Voluntary Select Gold (Flexible)
  • Canada Life - Voluntary Select Platinum
  • Canada Life - Voluntary Select Platinum (Flexible)
  • Hodge - Flexible Lifetime Mortgage Extended LTV
  • Hodge - Flexible Lifetime Mortgage (V1)
  • Just - J5 Moderate Impairment Drawdown Interest payment
  • Legal & General Home Finance - Flexible Blue
  • Legal & General Home Finance - Flexible Blue 2% Cashback
  • Legal & General Home Finance - Flexible Green
  • Legal & General Home Finance - Flexible Green 2% Cashback
  • Legal & General Home Finance - Flexible Indigo
  • Legal & General Home Finance - Flexible Indigo 2% Cashback
  • Legal & General Home Finance - Flexible Navy
  • Legal & General Home Finance - Flexible Navy 2% Cashback
  • Legal & General Home Finance - Flexible Orange
  • Legal & General Home Finance - Flexible Orange 2% Cashback
  • Legal & General Home Finance - Flexible Pink
  • Legal & General Home Finance - Flexible Pink 2% Cashback
  • Legal & General Home Finance - Flexible Turquoise
  • Legal & General Home Finance - Flexible Turquoise 2% Cashback
  • Legal & General Home Finance - Flexible Violet
  • Legal & General Home Finance - Flexible Yellow
  • Legal & General Home Finance - Flexible Yellow 2% Cashback
  • Legal & General Home Finance - Income Blue 10 year term
  • Legal & General Home Finance - Income Blue 15 year term
  • Legal & General Home Finance - Income Blue 20 year term
  • Legal & General Home Finance - Income Blue 25 year term
  • Legal & General Home Finance - Income Indigo 10 year term
  • Legal & General Home Finance - Income Indigo 15 year term
  • Legal & General Home Finance - Income Indigo 20 year term
  • Legal & General Home Finance - Income Indigo 25 year term
  • Legal & General Home Finance - Income Yellow 15 year term
  • Legal & General Home Finance - Income Yellow 20 year term
  • Legal & General Home Finance - Income Yellow 25 year term
  • Legal & General Home Finance - Optional Payment Blue
  • Legal & General Home Finance - Optional Payment Blue 2% Cashback
  • Legal & General Home Finance - Optional Payment Green
  • Legal & General Home Finance - Optional Payment Green 2% Cashback
  • Legal & General Home Finance - Optional Payment Indigo
  • Legal & General Home Finance - Optional Payment Indigo 2% Cashback
  • Legal & General Home Finance - Optional Payment Navy
  • Legal & General Home Finance - Optional Payment Navy 2% Cashback
  • Legal & General Home Finance - Optional Payment Orange
  • Legal & General Home Finance - Optional Payment Orange 2% Cashback
  • Legal & General Home Finance - Optional Payment Pink
  • Legal & General Home Finance - Optional Payment Pink 2% Cashback
  • Legal & General Home Finance - Optional Payment Turquoise
  • Legal & General Home Finance - Optional Payment Turquoise 2% Cashback
  • Legal & General Home Finance - Optional Payment Violet
  • Legal & General Home Finance - Optional Payment Yellow
  • Legal & General Home Finance - Optional Payment Yellow 2% Cashback
  • Legal & General Home Finance - Premier Optional Payment Black
  • LV= - Flexible Lifetime Mortgage
  • More 2 Life Ltd. - Capital Choice Drawdown
  • More 2 Life Ltd. - Capital Choice Lite Drawdown
  • More 2 Life Ltd. - Capital Choice Plus Drawdown
  • More 2 Life Ltd. - Maximum Choice Drawdown (Free valuation)
  • More 2 Life Ltd. - Maximum Choice Lite Drawdown
  • More 2 Life Ltd. - Tailored Plus (No Cashback)
  • OneFamily - Lump Sum Interest Payment Fixed Rate Lite
  • OneFamily - Lump Sum Interest Payment Fixed Rate Standard
  • Pure Retirement - Heritage Drawdown Fees Package
  • Pure Retirement - Heritage Drawdown Max Fees Package
  • Pure Retirement - Heritage Drawdown Max Plus Fees Package
  • Pure Retirement - Heritage Drawdown Midi Fees Package
  • Pure Retirement - Heritage Drawdown Plus Fees Package

Equity release - Four star

  • Aviva - Enhanced Lifestyle Lump Sum Max Lifetime Mortgage
  • Aviva - Lifestyle Lump Sum Max Lifetime Mortgage
  • Canada Life - Capital Select Super Lite
  • Canada Life - Capital Select Super Lite (Cashback)
  • Canada Life - Lifestyle Gold
  • Hodge - Lump Sum Lifetime Mortgage (V1)
  • Hodge - Lump Sum Lifetime Mortgage Extended LTV (V1)
  • Just - J1 Drawdown
  • Just - J1 Drawdown - Interest payment
  • Just - J2 Drawdown
  • Just - J2 Drawdown - Interest payment
  • Just - J3 Drawdown
  • Just - J3 Drawdown - Interest payment
  • Just - J4 Drawdown
  • Just - J4 Drawdown - Interest payment
  • Just - J5 Moderate Impairment – Drawdown
  • Legal & General Home Finance - Income Pink 10 year term
  • Legal & General Home Finance - Income Pink 15 year term
  • Legal & General Home Finance - Income Pink 20 year term
  • Legal & General Home Finance - Income Pink 25 year term
  • Legal & General Home Finance - Income Yellow 10 year term
  • Legal & General Home Finance - Premier Black
  • LV= - Lifetime Mortgage Lump Sum+ Lite
  • LV= - Lifetime Mortgage Lump Sum+ Max
  • LV= - Lifetime Mortgage Lump Sum+ Standard
  • More 2 Life Ltd. - Capital Choice Lite Lump Sum
  • More 2 Life Ltd. - Capital Choice Lump Sum
  • More 2 Life Ltd. - Capital Choice Lump Sum (3% cashback)
  • More 2 Life Ltd. - Capital Choice Plus (3% cashback)
  • More 2 Life Ltd. - Maximum Choice Drawdown
  • More 2 Life Ltd. - Maximum Choice Lite Lump Sum
  • More 2 Life Ltd. - Maximum Choice Lump Sum (Free valuation)
  • More 2 Life Ltd. - Prime Choice Lump Sum
  • More 2 Life Ltd. - Prime Plus Lump Sum
  • More 2 Life Ltd. - Prime Plus Lump Sum (3% cashback)
  • More 2 Life Ltd. - Prime Plus Lump Sum (5% cashback)
  • More 2 Life Ltd. - Tailored Plus - 1% Cashback (age 60-74)
  • More 2 Life Ltd. - Tailored Plus - 1% Cashback (age 75+)
  • More 2 Life Ltd. - Tailored Plus - 2% Cashback (age 60-74)
  • More 2 Life Ltd. - Tailored Plus - 2% Cashback (age 75+)
  • More 2 Life Ltd. - Tailored Plus - 2% Cashback (age 80-90)
  • More 2 Life Ltd. - Tailored Plus - 3% Cashback (age 60-74)
  • More 2 Life Ltd. - Tailored Plus - 3% Cashback (age 75+)
  • More 2 Life Ltd. - Tailored Plus - 3% Cashback (age 80-90)
  • More 2 Life Ltd. - Tailored Plus - 4% Cashback (age 60-74)
  • More 2 Life Ltd. - Tailored Plus - 4% Cashback (age 75+)
  • More 2 Life Ltd. - Tailored Plus - 5% Cashback (age 60-74)
  • More 2 Life Ltd. - Tailored Plus - 5% Cashback (age 75+)
  • More 2 Life Ltd. - Tailored Plus -1% Cashback (age 80-90)
  • OneFamily - Lump Sum Interest Payment Variable Rate Lite
  • OneFamily - Lump Sum Interest Payment Variable Rate Standard
  • OneFamily - Lump Sum Interest Roll-up with Voluntary Payment option Fixed Rate Lite
  • OneFamily - Lump Sum Interest Roll-up with Voluntary Payment option Fixed Rate Standard
  • OneFamily - Lump Sum Interest Roll-up with Voluntary Payment option Super LTV
  • Pure  - Fees Package Sovereign (Drawdown) A
  • Pure Retirement - Fees Package Sovereign (Drawdown) B
  • Pure Retirement - Fees Package Sovereign (Drawdown) C
  • Pure Retirement - Fees Package Sovereign (Drawdown) D
  • Pure Retirement - Fees Package Sovereign (Drawdown) E
  • Pure Retirement - Fees Package Sovereign (Drawdown) F
  • Pure Retirement - Heritage Drawdown Max Plus Standard Package
  • Pure Retirement - Heritage Drawdown Max Standard Package
  • Pure Retirement - Heritage Drawdown Midi Standard Package
  • Pure Retirement - Heritage Drawdown Plus Standard Package
  • Pure Retirement - Heritage Drawdown Standard Package
  • Pure Retirement - Sovereign (Drawdown) A
  • Pure Retirement - Sovereign (Drawdown) B
  • Pure Retirement - Sovereign (Drawdown) C
  • Pure Retirement - Sovereign (Drawdown) D
  • Pure Retirement - Sovereign (Drawdown) E
  • Pure Retirement - Sovereign (Drawdown) F

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy