Royal London’s New Equity Release Options

Homeowners across the UK now have two new avenues to tap into the wealth tied up in their homes, thanks to the launch of Royal London Equity Release’s latest offerings.

Royal London Equity Release, in collaboration with Responsible Lending, is introducing two new lifetime mortgage products: the Principal and Efficiency Plus plans. Both products come with a feature that allows homeowners to make partial repayments, offering the chance to pay back up to 10% of the total borrowed amount each year without facing early repayment charges for the first 10 years. This level of flexibility is a significant plus for those looking to manage their debt efficiently over time.

The Efficiency Plus plan goes a step further by rewarding homeowners who have made energy-efficient choices. If your home boasts an Energy Performance Certificate (EPC) rating between A and D, you’ll benefit from a reduced interest rate, making this option not only eco-friendly but wallet-friendly too.

Who Can Benefit?

The eligibility criteria for these innovative mortgage products are broad, covering homeowners aged 55 all the way up to the day before their 90th birthday. Your property must be valued at a minimum of £125,000 and can go up to a whopping £2 million, ensuring a wide range of properties can qualify.

These products mark the first launch by Responsible Lending since becoming part of the Royal London family, signifying a robust approach to later-life financial planning. The distribution of these products is exclusively through the Air Sourcing platform, ensuring that advisers have streamlined access to vital information and can offer tailored solutions to meet the unique needs of their clients.

A Word from the Experts

Chris Flowers, from Responsible Lending, emphasised the importance of these products, “We are delighted to have partnered exclusively with Air Sourcing to roll out the Principal and Efficiency Plus products to the wider broker community and their customers. Expanding the Royal London range will ensure advisers have access to a diverse array of products, enabling them to tailor solutions more precisely to meet the unique needs of their clients. Equity release remains an important later-life finance option, and we are confident these products will meet the needs of homeowners across the UK, providing greater flexibility when unlocking their property wealth.”


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