Compare Halifax Equity Release Quotes Against The Market

As one of the UK’s most recognisable high-street names, Halifax is a go-to for many homeowners. In the later-life lending market, Halifax has evolved its strategy to offer flexible solutions for those aged 55 and over. Whether you are looking for a traditional "no-payment" plan or a mortgage where you only pay the interest, Halifax provides a range of options through its own products and group partnerships.

If you would like independent advice about Halifax’s later-life lending range, get in touch below to arrange a free, no-obligation chat with an equity release adviser who specialises in their products:

Who is Halifax?

Halifax, originally a building society founded in 1853, is now a major division of the Lloyds Banking Group. Known for its "Extra Giving" and iconic branding, it is one of the largest residential mortgage lenders in the UK. In the later-life sector, Halifax combines its high-street accessibility with the financial strength of the Lloyds group to offer specialised retirement lending.

What is Halifax Equity Release?

Halifax offers two primary paths for homeowners to unlock property wealth:

• Retirement Interest-Only (RIO) Mortgages: This is Halifax’s flagship later-life product. You borrow a lump sum and pay only the interest each month. This ensures the loan balance never grows, protecting the remaining equity in your home for your heirs.

• Lifetime Mortgages (Equity Release): For those who prefer no monthly payments, Halifax facilitates access to lifetime mortgages. In these plans, the interest "rolls up" (adds to the loan) and is only repaid when you pass away or move into long-term care. These are often provided through specialised arms of the Lloyds Banking Group.

Key Features of Halifax Later Life Lending

Halifax’s products are designed with the flexibility needed for modern retirement:

• No Maximum Age: For their RIO products, Halifax is known for having no upper age limit for applicants, provided they can prove affordability through retirement income.

• 100% Home Ownership: You remain the sole owner of your property; the bank simply holds a charge against it, just like a standard mortgage.

• Optional Monthly Repayments: Even on "no-payment" plans, you often have the flexibility to make voluntary payments to reduce the interest build-up.

• Downsizing Protection: Many plans allow you to move home and take the mortgage with you (subject to criteria) or repay the loan without heavy penalties if the new home isn't eligible.

• No Negative Equity Guarantee: A standard protection ensuring you or your estate will never owe more than the home is sold for.

Halifax Equity Release Interest Rates

In 2026, Halifax remains highly competitive. Because they are a major bank, their RIO rates are often lower than niche equity release providers.

It is essential to speak to a broker if you’re looking for the latest rates from Halifax as they change all them time and some of their best deals might only be available via a broker.

Eligibility Criteria

To qualify for a Halifax later-life product, you generally need to meet the following requirements:

• Age: You must be at least 55 or 60 years old (depending on the specific product).

• Property Value: Your home must be your main residence and typically valued at £70,000 or more.

• Equity: You must have a significant amount of equity. For RIO mortgages, the maximum loan-to-value (LTV) is usually capped at 60% to 70%.

• Income: For RIO mortgages, you must provide proof of sustainable retirement income (pensions, investments) to cover monthly interest payments.

Halifax Equity Release Reviews

Halifax consistently scores well for its "straightforward" application process. Customers often appreciate the ability to discuss options in local branches, a feature many specialist online-only lenders lack. Industry reviews highlight Halifax as a top choice for RIO mortgages due to their competitive pricing and the lack of an upper age cap, though some note that their "no-payment" lifetime mortgage options are less varied than those of specialist firms.

Pros and Cons of Halifax Equity Release

Pros:

• Trusted Brand: The security of a massive, regulated high-street bank.

• Lower Rates: RIO products are often significantly cheaper than traditional roll-up equity release.

• Flexible Age Limits: One of the few lenders that will consider applicants well into their 80s for RIO products.

• No "Debt Trap": RIO options allow you to keep the loan balance static.

Cons:

• Affordability Checks: Unlike standard equity release, RIO products require you to pass a strict income assessment.

• Monthly Commitment: If you choose a RIO mortgage, you are committed to monthly payments for life.

• Limited Niche Products: They may be less flexible for "non-standard" properties (e.g., unusual construction) compared to specialist lenders like Pure Retirement.

How to Apply for Halifax Equity Release

The process usually begins with an initial consultation with a specialist mortgage adviser. Because later-life lending is a regulated activity, they will often refer you to a specialised adviser who can assess whether a RIO mortgage or a traditional lifetime mortgage is better for your specific goals. You will also need independent legal advice before any funds are released.

You can speed up the process by speaking to an independent adviser before you consult with Halifax - get started here to book a free, no-obligation chat with a later-life lending adviser who specialises in Halifax’s product range.