Is EquityKey available in the UK?

July 17, 2013 7:59 AM

I've heard of any equity release scheme called EquityKey. It's based in the US. Is there anything similar in the UK?

According to one article I read, EquityKey is an equity release scheme where you sell a share of future gains in a propery's value with a company. I only know of a US-based program. Is there anything similar in the UK?

If not, is it realistic to ask EquityKey if they could apply that program to a UK property?

Thanks for any advice.

posted by Musashi Daryl to Work & Money (2 answers total)

Am I correct in assuming you are interested in the partial sale model that Equity Key offers rather than the reverse mortgage/lifetime mortgage model? There are providers in the UK, apologies if I've missed some particular feature of Equity Key's product that you are looking for. Try searching for 'home reversion' or 'reversion plan'.

Some quick differences: EK takes between 50-100% of the equity and the UK range from googling is 25-100% (younger you are, the more they take). UK providers require you are over 65 years of age. Home reversion schemes are in the sights of the Financial Conduct Authority, they are regulated and may possibly be subject to further regulation early next year.
posted by Trivia Newton John at 9:57 AM on July 17, 2013

Response by poster: Hello,

I'm not sure I'm interested in a normal equity release program. The way I've heard EquityKey described is that the company takes a percentage of future gains in the property's price, but they don't take a percentage of the total equity, just the increase over time.

Do you know if there are any similar schemes in the UK where the focus is on the increase in price only?

Thank you for your assistance so far.
posted by Musashi Daryl at 10:59 AM on July 21, 2013