Can Couples Get Equity Release Together?
For couples who jointly own their home, equity release on a joint basis is the standard approach. It provides security for both partners and ensures neither is forced to leave the family home if the other dies or enters care.
Yes. Most equity release plans are available on a joint basis. The loan is not repaid until both borrowers have died or moved into long-term care.
How joint plans work
A joint lifetime mortgage is taken out in both partners' names. Both are named borrowers on the plan, and both have the legal right to remain in the property for the rest of their lives — or until both have permanently entered long-term care.
The loan works in exactly the same way as a sole plan: a lump sum or drawdown facility is made available, interest rolls up over time, and repayment is triggered only at the end of the plan. The critical difference is that the end of the plan is defined by the last surviving borrower — not the first.
Both partners must consent to the plan and both will typically be present at the independent legal advice meeting with the solicitor before completion.
Age and borrowing amount — how the younger partner affects the LTV
On a joint plan, the lender uses the younger partner's age to determine the loan-to-value (LTV) ratio. This is because the lender must plan for the longest possible loan term — which is determined by the younger person's life expectancy.
This means couples where one partner is significantly younger than the other will be offered a lower LTV than if the older partner applied alone. The table below illustrates how the younger partner's age affects the available LTV on a £300,000 property:
| Younger partner's age | Typical LTV Range | Example: £300,000 property |
|---|---|---|
| 55 | 20–28% | £60,000–£84,000 |
| 60 | 25–33% | £75,000–£99,000 |
| 65 | 30–38% | £90,000–£114,000 |
| 70 | 35–44% | £105,000–£132,000 |
Figures are illustrative only. Actual LTV depends on lender, product, and individual circumstances.
What happens when one partner dies
The death of one partner does not trigger repayment on a joint plan. The surviving partner continues to live in the property and the plan continues on exactly the same terms. The lender should be notified of the bereavement, but no repayment action is required.
The loan balance continues to grow through compound interest during this period. Repayment only becomes due when the surviving partner also dies or enters permanent long-term care.
This continuity of security is one of the primary reasons couples take out joint equity release rather than a sole plan. It removes the risk that the surviving partner could be forced to sell the family home to repay the loan on the death of the first borrower.
Unmarried couples and civil partners
A joint equity release plan does not require the borrowers to be married. Unmarried couples and civil partners are equally eligible. The key requirement is that both partners are named on the property deeds — that is, both are legal owners of the property.
If only one partner is currently named on the deeds, it may be possible to add the other partner before the equity release application. This requires a legal transfer of ownership and has cost and tax implications that should be discussed with a solicitor beforehand.
Age gap considerations
A significant age gap between partners can meaningfully reduce the amount available on a joint plan. For example, if one partner is 75 and the other is 58, the LTV will be based on age 58 — potentially offering only around 20–25% of property value, compared to 40–50% if the 75-year-old applied alone.
In such cases, an adviser will typically model both scenarios — joint and sole application — so the couple can make an informed decision. A sole application by the older partner releases more equity but leaves the younger partner without named protection on the plan. The implications of this — particularly in relation to the right to remain in the property — need careful consideration and legal advice.
For more on how age determines borrowing amounts, see: What age can you get equity release?
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