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Your guide to Crown Equity Release

Find out if Crown offers the equity release options you need and if you’re eligible

Introducing Crown Equity Release

Equity release is a way to release wealth from your home as tax-free cash to spend as you wish – without having to move home. Although this is usually done through a lifetime mortgage, for some consumers a home reversion plan is more appropriate. 

Crown Equity Release is a specialist provider offering home reversion plans to people aged 60+, the minimum age for home reversion. The company is well-established in this sector, but how do you know if their equity release products are right for you? 

In our guide below we look at what Crown offers – and through our selected equity release advisers you can compare plans from other leading UK equity release providers. To find out how much you could borrow, check here or talk to one of our friendly consultants by calling 0808 178 3055 or request a call back.

Did you know?

With a home reversion plan, you are given a ‘lifetime lease’ that guarantees you the right to stay in your home rent-free for the rest of your life, subject to terms and conditions. This is the case whether you sell all of your property to a home reversion provider, or a proportion of it.

What are the main features of home reversion from Crown Equity Release?

Crown Equity Release specialise in home reversion products. Home reversion is a type of equity release plan that enables you to sell all or part of your home in exchange for tax-free cash. You can then remain in your home for the rest of your life or until you move into long-term care. At that time, the property is sold to repay the home reversion provider.

If your income is limited but you have money tied up in your property, unlocking value from your home through equity release could be a good way to enjoy a more comfortable lifestyle without having to downsize. 

Here are some of the features of the home reversion plans from Crown Equity Release, in common with other providers:

Release a lump sum or income. You can take all of your tax-free cash as a single lump sum payment, or as an initial lump sum followed by monthly smaller releases. 

The right to stay in your home. You have the same ‘security of tenure’ as if you still owned the property.  

No rent to pay. You will stay in your home on a rent-free lease, with nothing to pay to Crown Equity Release while you are living in your property. 

Inheritance guarantee. If you sell a percentage of your home rather than all of it, you can leave the remaining share to your family. This means you will guarantee them an inheritance, with their proceeds from the sale of the property depending on its future market value.

The right to move. Home reversion plans are portable, so you would potentially have the option to move home in the future should you wish. The main criteria is that the new property should be worth less than your current home.

In addition, Crown Equity Release offers some features that not all providers make available:

Annual instalments. As well as the option of a lump sum or monthly releases, Crown Equity Release may let you access your cash in annual instalments. This may be a way to maximise the overall amount you can release.

Eligibility for leasehold properties. Crown Equity Release will consider applications for certain leasehold properties.

How much equity can I release with Crown Equity Release?

The amount of cash you can release will depend upon factors including:

  • Your age – the older you are, the more you can release.
  • Your health/lifestyle – you may be able to release more cash if you have certain health conditions or lifestyle choices.
  • Your property’s value – the more valuable your property, the more you can release.  

Home reversion providers typically pay 30–60% of the current market value of the property. This is of course much less than the amount of money you might receive if you were to simply sell your home. So why is this?

Home reversion providers offer less than the market value because unlike other types of equity release, they will not receive any loan interest for cash they pay out to you. Also, they don’t know exactly when they will get their money back, and face the uncertainty of future house prices. 

When balancing up the suitability of home reversion, remember that you will have the right to live in your home rent-free – hopefully for many years through a long and enjoyable retirement. 

Take all these factors into account when deciding if home reversion is right for you. It might also be a good idea to consider the more common alternative of a lifetime mortgage. To help you with such an important decision, our expert team of selected advisers can help you understand both forms of equity release and which is right for you. Call us on 0808 178 3055 or request a call back and we can arrange a pressure-free, no-obligation appointment.

Check your eligibility image crown equity release

Am I eligible for Crown Equity Release?

Each home reversion provider will have their own eligibility criteria, and for Crown Equity Release some of the main criteria are as follows:

  • You’ll need to be aged 60 or older – there’s no maximum age
  • For a couple applying, the youngest should be at least 60
  • You should own and live in a UK property that is worth at least £100,000 – no maximum property value
  • You will need to have up-to-date buildings insurance in place

Crown Equity Release are able to consider applications for home reversion on a wider range of properties than many providers of lifetime mortgages. Here are some examples of properties potentially eligible for Crown home reversion that may not qualify for a lifetime mortgage:

  • Ex-local authority properties
  • Non-standard construction
  • Insulated with spray foam
  • Flat roofs
  • Single skin walls
  • Close to commercial premises
  • Leasehold on a short-term lease 

This extended eligibility compared to lifetime mortgages is due to differences in the way the two forms of equity release work, and because of Crown’s specialist knowledge, experience and the investors they work with. It’s one reason why home reversion may be appropriate for you, even though a lifetime mortgage is a much more common form of equity release.

Check your eligibility

Call us on 0808 178 3055 and we’ll arrange a free, no-obligation appointment and equity release advice* from a specialist who will confirm whether you are eligible. If you’re unable to talk now, request a call back and we’ll call when it’s convenient to you.

Check my eligibility

Is Crown Equity Release right for me?

If home reversion does prove to be the most suitable form of equity release, you may find that Crown Equity Release is a suitable provider. They have more than 20 years’ experience in the market and offer a number of flexible features within their home reversion options.

However, it is important to remember that a tiny fraction of the equity release plans taken out in the UK each year are home reversion (less than 1% in 2020, according to the Equity Release Council). That means around 99% are of the other type of equity release – lifetime mortgages.

Home reversion is often seen as the less attractive option, for a number of reasons. For example, it can be expensive to buy back the share you sell, because you’d pay the market share rather than the discounted rate you sold the property or a share of it for. It could also mean that your loved ones inherit less than with a lifetime mortgage. Overall, as consumer experts Which? say, home reversion can be “far more expensive than a lifetime mortgage”.

Deciding whether a lifetime mortgage or home reversion is right for you is complicated. That’s why we encourage you to talk to one of our selected equity release advisers. They can go through the pros and cons of each type of equity release, and obtain quotes from a number of leading providers – not just Crown Equity Release.

Can I get home reversion directly from Crown Equity Release?

Crown Equity Release doesn’t offer their equity release products directly to consumers, but instead requires you to go through a financial adviser. At Equity Release Wise, we work with our carefully selected specialist equity release advisers. They can not only offer advice, but also compare plans from a number of the UK’s leading equity release providers. 

This means that you could benefit from the latest products, features, deals and interest rates – and won’t be tied down to a Crown Equity Release plan. This way, you can find the best plan tailored to your individual circumstances.

Do I need equity release advice?

In order to decide which provider and plan is right for your equity release needs, we recommend that you speak with a specialist equity release adviser. Equity release is a complicated product and is not for everyone. There may be better ways you can meet your financial needs, so advice to understand all of your options is important. 

In fact, the Financial Conduct Authority (FCA) Handbook contains very clear statements about how important it is to get professional advice when considering equity release. Our selected advisers are there to help make sure you make a fully informed decision. Call us on 0808 178 3055 or request a call back and we will arrange an appointment for you.

Which other companies offer equity release?

Crown Equity Release is just one of several UK companies offering equity release, so why not compare plans from multiple providers to get the best deal? Here at Equity Release Wise, we can arrange this for you, with a search across leading equity release plans from our selected advisers. 

Here are just some of the leading equity release providers the search will cover. All of them are of course authorised and regulated by the Financial Conduct Authority and are members of the Equity Release Council.

aviva logo
Legal & General logo
canada life logo
just logo
pure retirement logo
crown equity release logo

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Answering your questions

Still unsure of a few things? We’ve got you covered with answers to some of our most frequently asked questions.

  • Do I need to talk to a Crown Equity Release adviser?

      No, you won’t be able to speak with a Crown Equity Release adviser as the company’s home reversion plans are only available through third party advisers. We would recommend that you deal with an adviser who isn’t tied to Crown, but who instead can search products from multiple providers to find you the best products, features and deals for your individual circumstances.

  • Where can I find a Crown Equity Release calculator?

      Most providers will offer their own calculator, and Crown Equity Release is no exception. But we suggest that instead of tying yourself down to just one provider with a Crown Equity Release calculator, you compare plans from multiple providers. Equity Release Wise can arrange a comparison of plans from a number of the leading providers.

  • Is there a difference between a lifetime mortgage and equity release?

      A lifetime mortgage is a type of equity release scheme. There are two main types of equity release scheme: a lifetime mortgage and a home reversion plan.

      With a lifetime mortgage, you retain full ownership of your home until the term of your mortgage ends. There are many variations of lifetime mortgages, such as a drawdown lifetime mortgage where you can access your cash in stages rather than a lump sum. 

      A home reversion plan (also known as a reverse mortgage) does not require you to borrow against the value of your property, therefore there is no interest to pay or monthly repayments to make. Instead, a home reversion plan involves selling all or a percentage of your home to a home reversion provider.

  • Do I have to make interest payments with home reversion?

      With home reversion, you have zero monthly repayments and there is no interest to pay. This type of plan doesn’t require you to borrow, instead, the reversion company will collect payment when the property is sold, usually when you pass away or move into long-term care. In the meantime, you have the right to live there rent-free.

  • What are the potential risks of home reversion?

      Home reversion schemes are very specialised products and are not for everyone, so it’s vital you seek the advice of a specialist before agreeing on a plan. The great news is that Equity Release Wise can connect you with a highly trained and knowledgeable adviser who will take the time to explain everything to you, so you can be absolutely sure about your decision. 

      During your appointment, your adviser will discuss the following drawbacks of a home reversion plan with you:

      • There is a considerable shortfall between the value you’ll receive for a share of your property, compared to its current market value.
      • If you pass away soon after taking out a plan, your loved ones will lose a significant proportion of your home’s market value. 
      • If you decide to sell 100% of your property, your loved ones will not inherit anything from your home when you pass away.
      • You need to be 60 or older to take out a home reversion plan. Over 55s may qualify for a lifetime mortgage instead.
      • It’s difficult to reverse a plan if you decide to buy back part of your home. In this case you would pay the full market value, not the discounted rate at which you sold it.
      • You no longer retain full legal ownership of your home. 

      Having a large cash lump sum in your bank account might affect your entitlement to means-tested state benefits. During your appointment with one of our selected equity release advisers, they will help you establish whether your benefits could be affected.

Still have questions?

We hope this information has been useful. To find out more or arrange a consultation with an adviser, please call or request a call back and we’ll be happy to help further.

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+ Client testimonials refer to the service provided by our selected equity release advisers. We have changed the clients’ names and certain identifying information to protect their privacy.

Please note that equity release will involve a home reversion or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care. To fully understand the features and risks, ask for a personalised illustration. Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long term care.