An equity release quote starts with your age, your home's value and your health; an adviser's illustration sets out a plan, but only the offer is firm.

If you are looking for an equity release quote or a lifetime mortgage quote, the first thing to know is that there are two different things behind the words. A calculator gives a rough figure in a minute. A personalised illustration, which comes after a conversation with an adviser, sets out the terms of a particular plan. Your own figures need a qualified equity release adviser, and you pay nothing to be introduced, which the form on this page arranges. The rest of this guide covers what you will be asked, what the illustration shows and what a quote is not.

What you will be asked for

Aviva, one lender, says the interest rate and how much you can borrow "are based on your individual circumstances such as your age, property value, health and lifestyle details", and suggests bringing "bank statements, details of your income, what your outgoings are and any state benefits you’re being paid" to a meeting with an adviser, with a reasonable idea of what your home is worth. Other lenders set their own criteria, but the inputs look similar:

The FCA's rules for advised sales point the same way: the firm should take reasonable steps to get all the information likely to be relevant, and its view of what suits you rests on the facts you disclose.

A calculator or an adviser: where a quote comes from

Lenders' online calculators ask for little, typically age, property value and an address. Even then, Aviva's own wording is that an adviser will "take more details from you", so the final figure may be higher or lower. It also says there is "zero pressure or obligation afterwards". The result is a rough guide to one lender's product and says nothing about the others; what calculators can and cannot tell you goes further.

The quote you can act on comes from an adviser. The FCA's equity release chapter (MCOB 8.2) sets out that customers should receive advice in all cases, with execution-only sales allowed only in limited exceptions, and that firms must make clear the range of plans they offer and how they are paid. MoneyHelper, the government-backed guidance service, suggests asking any adviser what they charge and whether they search the whole market; you can put the same questions to the adviser this site introduces you to. Choosing and checking an adviser and equity release fees cover the money side.

Reading the Key Facts Illustration

The illustration is an FCA requirement. Under its rules (MCOB 5.5, applied to equity release by MCOB 9.3), a firm must give you one before you apply for a plan, and at the point it advises you to take a particular one; MCOB 9.4 sets the content and order, under a "Key facts" logo. A lifetime mortgage that falls under the separate Mortgage Credit Directive rules is the exception (MCOB 9.1) and comes with a different document. After a recommendation you get two documents: a suitability letter or product confirmation letter, and the Key Facts Illustration (KFI). MoneyHelper says together they give you "a personalised report". The KFI sets out the plan's terms, including:

  • the provider and a description of the scheme;
  • the overall cost and any fees to pay;
  • the interest rate deal, for a lifetime mortgage;
  • regular payments, if you choose them, and what they would be if interest rates increased.

Read it all and ask the adviser to explain anything unclear. It can also be used to compare similar schemes from other providers, which is worth doing while you still can: the loan is a long one, and the interest compounds if it is rolled up (equity release interest rates). A quick check of what you are reading:

  1. Is the amount the one you asked for, and is it in one lump sum or drawn in stages?
  2. Is the interest rate fixed, or variable with a fixed cap? The Equity Release Council's standards require one or the other for members' products.
  3. Which fees are due, and when?
  4. What would an early repayment charge be if you repaid early?

Anything in an illustration that surprises you is worth raising with a qualified equity release adviser. Ask for a call back in the form on this page.

Advice, legal advice and the Council's standards

A quote comes with advice from two directions. Under the Equity Release Council's standards, every customer has independent legal advice, and the adviser's explanation covers the costs of setting the plan up and what a change in house prices could do to it. Those standards bind Council members, not every firm; MoneyHelper says a member must tell you if a lender it recommends falls short of one, and explain the risks. The solicitor's role and the standards in full have the detail.

Whatever the quote shows, the usual trade-offs apply: interest rolls up and compounds on a roll-up lifetime mortgage, so the debt grows; the estate left is smaller; means-tested benefits may be affected; and early repayment charges can apply. Equity release in the UK sets them out once. On a lifetime mortgage over a Scottish home, the lender's security is a standard security: under section 9 of the Conveyancing and Feudal Reform (Scotland) Act 1970, a loan can be secured on land in Scotland only that way.

A quote is not an offer

An illustration shows what a recommended plan would look like; the offer comes later. In MoneyHelper's order, you agree the plan with your adviser, the application is approved, and only then does an offer document arrive, for a solicitor to check; if you are unhappy or unsure at that point, you can still walk away. The home is valued in between. Aviva says the valuation "will help us decide whether we can make you an offer, how much we are able to lend you" and whether conditions apply, and that its interest rate comes with the offer, so with Aviva both the amount and the rate are settled at that stage. How long equity release takes covers the timing.

Questions people ask about equity release quotes

Can I get an equity release quote online?

You can get an estimate from a lender's calculator, which uses a few details. It is an estimate of what that lender might offer, not a quote for a plan.

Does asking for a quote commit me to anything?

Aviva says its call-back service means "You don’t have to commit to anything". Whatever the lender or adviser, an offer comes only after you have agreed a plan and the application is approved, and you can still decline it.

Do I have to give health details?

Aviva lists health and lifestyle details among the inputs to the amount and the rate. You can ask an adviser what they would need and why; whether equity release is a good idea weighs it more widely.

Is a lifetime mortgage quote the same as a home reversion quote?

No. A home reversion provider buys all or part of your home, and the Council says it takes "your age and your health" into account in doing so. Home reversion plans have their own page.

Next step

A calculator is a start; the illustration you receive after advice is the document to rely on. The short form on this page costs nothing, takes minutes, and leads to a call from a qualified equity release adviser; going through the illustration for your own home is part of that call. Comparing providers and weighing whether it suits you belong in that conversation too.

Sources: MoneyHelper, What is equity release? (archived 19 September 2026); Equity Release Council, Professional Standards & Guarantees and Lifetime Mortgage; Aviva, equity release process, lifetime mortgage explained and calculator; FCA Handbook, MCOB 8.2, MCOB 8.5A, MCOB 5.5, MCOB 9.1, MCOB 9.3 and MCOB 9.4; legislation.gov.uk, Conveyancing and Feudal Reform (Scotland) Act 1970, section 9. Accessed 19 October 2026.