Leading Lifetime Mortgage Brokers
1. KIS Finance
KIS Finance is considered one of the best lifetime mortgage providers in the UK. With 35 years of experience in the finance sector, they bring established market expertise to equity release advisory services.
Loan Parameters: KIS Finance equity release services cover loan amounts from standard minimums up to higher-value arrangements, utilizing their extensive network of specialist lenders. Their established relationships enable access to exclusive products not available through direct application.
Advisory Process: The company employs a three-stage process beginning with detailed client consultations, followed by application preparation and submission, concluding with completion arrangements. Their advisors focus on understanding individual requirements and circumstances to provide suitable recommendations.
Fee Structure: KIS Finance operates on a commission-only basis, charging no broker fees for their equity release advice services. This approach ensures clients receive professional guidance without additional advisory costs beyond standard product fees.
Lender Panel: The broker maintains relationships with Equity Release Council member lenders, ensuring all recommended products include No Negative Equity Guarantees and other standard consumer protections.
2. Age Partnership
Age Partnership stands as the UK’s largest equity release broker, arranging one in four equity release plans across the country. The company has specialized in equity release since 2005 and maintains multi-award-winning service credentials.
Service Structure: Age Partnership operates through both telephone and face-to-face advisory services, offering comprehensive consultation processes that include family members where appropriate. Their advisors provide detailed analysis of client circumstances, including affordability assessments, inheritance planning considerations, and care funding requirements.
Product Access: The broker maintains access to plans from multiple leading providers including Aviva, Pure Retirement, Just Retirement, Canada Life, and Crown. They have successfully negotiated preferential terms with leading equity release providers, offering exclusive benefits not available through direct application or other brokers.
Fee Structure: Age Partnership provides free initial consultations and written recommendations without separate advice fees. Their advisors receive commission payments from lenders upon successful completion, allowing them to offer no-cost advice to consumers.
Market Position: The company has achieved a 4.6 trust score on Trustpilot and received accreditation as The Times Money Mentor recommended equity release broker for 2022. They maintain Investor in Customers Gold accreditation for ten consecutive years, demonstrating sustained service excellence.
3. Bower Retirement Services
Bower Retirement Services operates as one of the longest-standing and largest whole-of-market adviser companies in the UK lifetime mortgage sector. The company won “Best Financial Adviser” in the large adviser firm category at the 2024 Equity Release Awards, highlighting their market leadership position.
Advisory Approach: Bower provides personalized guidance through multiple channels including face-to-face meetings, telephone consultations, and video calls. Their advisors take comprehensive approaches to understanding client circumstances before providing independent recommendations.
Market Coverage: As a whole-of-market independent specialist, Bower researches the entire equity release and retirement interest-only mortgage market. They specialize in high-net-worth cases, which often involve more complex arrangements and higher loan amounts.
Service Recognition: The company holds thousands of 5-star Feefo testimonials and has earned the Platinum Trusted Service Award from Feefo. They have consistently won industry awards since 2006, including multiple recognitions at the What Mortgage Awards for “Best Equity Release Adviser” and “Best Customer Service”.
Fee Structure: Bower offers free initial no-obligation consultations, allowing potential clients to explore options without upfront costs.
4. Responsible Equity Release
Responsible Equity Release positions itself as a specialist equity release advisory firm focusing exclusively on lifetime mortgages rather than home reversion plans9. The company emphasizes consumer education and responsible lending practices throughout their advisory process.
Product Focus: The broker advises only on lifetime mortgages, ensuring clients retain complete ownership of their homes throughout the arrangement. This approach reflects their belief that lifetime mortgages provide better consumer protection compared to alternative equity release products.
Eligibility Requirements: Responsible Equity Release works with homeowners aged 55 and over who own properties worth at least £70,000 and wish to release minimum amounts of £10,000. Their advisory team provides detailed eligibility assessments during initial consultations.
Educational Approach: The company places strong emphasis on consumer education, providing comprehensive information about equity release concepts, processes, and implications. Their advisors explain complex financial information in accessible terms while ensuring clients understand all features, benefits, and risks.
Service Model: Responsible Equity Release offers free consultations and maintains detailed records to ensure FCA compliance throughout the advisory process. They provide clear recommendations based on individual client circumstances and comparative analysis of available products.
5. Equity Release Supermarket
Equity Release Supermarket operates a national network of local equity release advisors covering regions throughout the UK. The company employs a localized service model, assigning dedicated advisors to specific geographical areas for personalized client relationships.
Service Delivery: The broker offers flexible consultation arrangements, allowing clients to choose between home visits and telephone discussions based on their preferences. Local advisors hold industry qualifications including Certificate of Regulated Equity Release (CeRER) or equivalent credentials.
Customer Engagement: Equity Release Supermarket encourages family member participation in advisory meetings, recognizing the importance of involving relatives in equity release decisions. Initial consultations are provided free of charge with no obligation to proceed.
Market Coverage: The company maintains advisors across England, Scotland, Wales, and Northern Ireland, ensuring comprehensive national coverage for potential clients. Each advisor serves specific postcode areas, enabling local market knowledge and relationship building.
Client Testimonials: The broker displays extensive customer testimonials from satisfied clients across different regions, demonstrating successful outcomes and service satisfaction.
Broker Fee Structures and Market Dynamics
Fee Analysis
The lifetime mortgage providers industry has experienced significant changes in fee structures, with two-thirds of brokers now charging more than £1,000 in advisory fees. The average lifetime mortgage broker fee reached £1,258.80 in 2023, representing an increase from £1,081.20 in 2022.
Fee Distribution: The largest increase occurred among advisers charging £1,500-1,999, which rose from 15% in 2022 to 22% in 2023. Advisers charging £2,000-plus increased from 13% to 21% year-on-year, while those charging no fees decreased from 19% to 15%.
Commission Structures
Many brokers receive commission payments from lenders in addition to or instead of direct client fees. Commission rates for lifetime mortgage providers are typically higher as a percentage compared to traditional mortgage products, reflecting the complexity and specialist nature of equity release advice.
Alternatively, some brokers offer commission-only arrangements, such as KIS Finance, which charges no direct fees to clients. Legal & General operates a similar model, covering advice costs through payments from their lending division rather than charging clients directly.
Regulatory Framework and Qualifications
Professional Requirements
Equity release advisors must hold specific professional qualifications, primarily the Certificate in Regulated Equity Release (CeRER) or equivalent Level 3 qualifications. The CeRER qualification requires candidates to already possess CeMAP (Certificate in Mortgage Advice and Practice) or equivalent mortgage qualifications.
Alternative Pathways: Advisors can pursue qualifications through either the Chartered Insurance Institute (CII) or the London Institute of Banking & Finance. The CII route requires completion of RO1 or CF1 (regulation and ethics), CF6 (mortgage advice), and ER1 (equity release) modules.
Market Oversight
The Financial Conduct Authority (FCA) maintains oversight of lifetime mortgage providers and intermediaries, with specific focus on consumer outcomes and market conduct standards. The FCA expects firms to demonstrate fair value in their fee structures and appropriate treatment of vulnerable customers.
Industry Standards: The Equity Release Council sets voluntary standards beyond statutory regulation, requiring member firms to provide structured financial advice processes, independent legal advice, and clear product safeguards. These standards include secure tenure for life and no negative equity guarantees.
Market Trends and Future Outlook
Product Innovation
The lifetime mortgage market is experiencing innovation with hybrid products that allow interest payments until specific ages (such as retirement) before switching to interest roll-up arrangements. These products can facilitate higher loan-to-value ratios compared to traditional lifetime mortgages.
Technology Integration: Pure Retirement became the first equity release specialist to join mainstream sourcing platform Mortgage Broker Tools, reflecting increasing integration between traditional and specialist mortgage markets. This development highlights the narrowing rate gap between residential and lifetime mortgages.
David Prior
David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.
