Age Partnership Equity Release Review: A Good Option for Advice in 2025?
Age Partnership specialises in equity release advice, offering comparisons and personalised recommendations from a wide range of equity release products.
This article contains tops tips from our experts, backed by in-depth research.

Founder:

Bert Hofhuis
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Key Takeaways

  • Age Partnership specialises in equity release for homeowners aged 55 and over, offering tailored advice on a range of products.
  • Age Partnership provides end-to-end support, from initial no-obligation consultations to managing paperwork and liaising with lenders. This includes property valuations and offering ongoing assistance after funds are released.
  • Key benefits include access to expert advice, a wide selection of lenders, and a comprehensive service that simplifies the equity release process.
  • Potential drawbacks to equity release include upfront costs, early repayment charges, and the impact on inheritance and means-tested benefits.

Age Partnership Equity Release offers advice to homeowners over 55 who want to access the value of their homes without the need to sell or relocate. 

With a focus on personalised advice and access to a range of equity release plans, they aim to provide solutions tailored to individual needs.

But how does Age Partnership stand out, and what should you know before considering their services?

In this article, the TimeBank team dives into Age Partnership’s offerings and benefits to find out what makes them a trusted name in equity release.

This article explores the following topics, drawing on our expertise in the field:

    COMMENT: TimeBank.org.uk is an independent third-party data provider, and the information shared here reflects their views alone, not necessarily those of Age Partnership. This article is for informational purposes only and should not be considered financial advice or a recommendation to engage with any products offered by Age Partnership.

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    What Is Equity Release?

    Equity release is a financial product designed for homeowners aged 55 and over who want to access some of the money tied up in their homes without having to sell or move out. 

    What Is Equity Release?

    An equity release plan can provide homeowners with a lump sum or access to a drawdown facility.

    Funds raised in this way can be used for various purposes such as home improvements, paying off debts, funding holidays, or simply supplementing retirement income.

    Homeowners often accumulate substantial value in their properties over the years, but this value remains inaccessible unless they decide to sell. 

    Equity release allows them to tap into this value while continuing to live in their home. 

    This can be particularly useful for those who are asset-rich but cash-poor, offering them financial flexibility in their later years.

    About Age Partnership

    Age Partnership is a well-known financial services company in the UK that specialises in helping older homeowners with equity release. 

    Established in 2004 to provide clear and professional advice, Age Partnership assists clients in navigating the often complex world of equity release. 

    Age Partnership offers advice on a range of equity release plans designed to meet the diverse needs of their clients.

    They offer personalised consultations and comprehensive support to ensure clients understand the available options and make informed decisions.

    How does it work?

    Age Partnership’s team consists of experienced financial advisors who are experts in equity release. 

    They work closely with clients to assess their individual needs and circumstances, providing tailored advice that aligns with their financial goals. 

    Furthermore

    In addition to equity release advice, Age Partnership offers a variety of other financial services, including advice on lifetime and fixed-term annuities, retirement mortgages, and home insurance products.

    How Does Age Partnership Equity Release Advice Work?

    Age Partnership offers a straightforward and supportive equity release advice process.

    Here’s how it works.

    Initial Consultation

    The process begins with a free, no-obligation consultation with an Age Partnership specialist.

    During this session, they’ll explain the basics of equity release, outline the available products, and discuss options tailored to your needs. This is a chance to ask questions and share any concerns.

    The specialist will also gather information about your financial goals, like whether you’re seeking a lump sum or a drawdown facility, in order to provide a clear overview of how equity release could work for you.

    Personalised Advice

    If you choose to proceed after the initial consultation, you’ll receive personalised advice tailored to your circumstances.

    The specialist will conduct a detailed review of factors such as your age, property value, existing loans, and the amount of equity you wish to release.

    They’ll recommend the most suitable options, explaining the pros and cons of different equity release plans, to help you make an informed decision that aligns with your financial needs and goals.

    Choosing a Plan

    After discussing the available options, you will choose the plan that best meets your needs.

    What are your options?

    When considering equity release, you’ll be able to choose between two main types, namely lifetime mortgages and home reversion plans.

    Lifetime Mortgages

    A lifetime mortgage is a loan secured against your home, allowing you to retain ownership and live there until you pass away or move into long-term care.

    The loan and accrued interest are repaid from the property’s sale.

    You can receive the funds as a lump sum, in instalments, or as a mix of both, offering flexibility to suit your needs.

    Home Reversion Plans

    With a home reversion plan, you sell a portion or all of your home to a reversion company in exchange for a lump sum or smaller payments. 

    You retain the right to live in the property for the rest of your life. 

    This option may allow you to receive a larger sum of money than a lifetime mortgage, but you will no longer own the entire property.1

    Application Process

    Once you’ve chosen the right equity release plan, Age Partnership will guide you through the application process.

    They’ll manage the paperwork and liaise with the lender, ensuring everything runs smoothly and minimising delays.

    The process includes a formal valuation of your property to determine how much equity can be released.

    Property Valuation

    A professional valuation of your property will be arranged to determine its current market value.

    This valuation is crucial in calculating the amount of equity you can release.

    Legal Advice

    Independent legal advice is required to ensure you fully understand the terms and implications of the equity release plan.

    Age Partnership can recommend solicitors experienced in equity release.

    Receiving Funds

    After your application is approved, your solicitor will receive the equity release funds and then transfer those funds to your account.

    If you have an existing mortgage, the balance of funds will be transferred to you once your solicitor has repaid your mortgage in full.

    Ongoing Support

    Age Partnership provides ongoing support and advice even after the funds have been released, ensuring you have all the information and assistance you need throughout the life of your equity release plan.

    They are available to answer any questions and provide assistance whenever needed.

    Benefits of Using Age Partnership

    The benefits of using Age Partnership include the company’s comprehensive service.

    Here’s a look at some more potential benefits:

    • The services of award-winning equity release advisors.2
    • A dedicated advisor will review a range of plans from top equity release lenders to find one that suits you.
    • Over two decades’ worth of experience, as the company has helped over 2 million people explore equity release since 2004.3
    • Your initial advice session is free, and a fee only becomes payable if your case completes.
    • A free, no-obligation quote.
    • Age Partnership is a member of the Equity Release Council.
    • Age Partnership is authorised and regulated by the Financial Conduct Authority (FCA).4

    It is, of course, important to weigh the potential downsides against these benefits.

    Things to Consider Before Using Age Partnership

    Things to consider before using Age Partnership for equity release advice include the long-term costs of this kind of plan.

    Here’s a brief look at some more potential drawbacks of this particular advice service and of equity release in general.

    Potential downsides:

    • A £1,895 advice fee is payable when your equity release plan completes.
    • An equity release loan will affect the inheritance you can leave to your beneficiaries.
    • Equity release may not be suitable for everyone.
    • Once you have taken out an equity release plan, no other loan can be taken out against your home.
    • Equity release can impact your eligibility for means-tested benefits.
    • Your debt can increase significantly over time owing to the effects of compound interest.
    • You may be liable for significant Early Repayment Charges if you decide to repay your lifetime mortgage early.

    Is Equity Release Right for You?

    Equity release can be a valuable financial tool for many homeowners, but it’s not suitable for everyone. 

    Is Equity Release Right for You?

    It’s essential to carefully consider the benefits and potential downsides and how they fit into your overall financial plan. 

    In addition to the considerations mentioned above, your personal and financial circumstances may necessitate further deliberations.

    Some more things to think about:

    • Explore other options before deciding on equity release. These might include downsizing, using savings, or seeking financial assistance from family members.
    • Think about your long-term plans and how equity release fits into them. Consider factors such as future care needs, potential moves, and changes in your financial situation.
    • Ensure you meet the eligibility criteria for equity release, such as age and property value. Different providers have varying requirements, so it’s important to check these details.

    Consulting with a specialist from Age Partnership can help you make an informed decision based on your specific circumstances and financial goals.

    Age Partnership’s advisors are committed to providing clear, unbiased advice, helping you weigh the pros and cons. 

    They will ensure you have all the information you need to decide if equity release is the right solution for your financial needs.

    Common Questions on Age Partnership

    What types of equity release does Age Partnership advise on?

    How much money can I release from my home?

    Will I still own my home with equity release?

    Are there any costs associated with equity release?

    How will equity release affect my inheritance?

    Final Thoughts on Age Partnership Equity Release

    Age Partnership has long been a well-regarded provider of equity release advice to prospective borrowers. 

    With expert guidance and a range of products, Age Partnership aims to make the process as smooth and stress-free as possible. 

    If you’re considering equity release, taking advantage of Age Partnership equity release’s no-strings initial consultation can be a good first step to understanding your options and making an informed decision.

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