Equity Release FAQs
If you are considering an Equity Release, you are not alone and we find that these FAQs provide a great benefit to people looking to determine if this is the right solution for their needs. If you still have outstanding questions, please call 01480 223691 and we’ll help you.
- Downsizing your property and using the surplus funds
- Utilising savings, investments or other assets you may have
- Seeking help from family help, obtaining grants or calling on state benefits which you haven’t claimed
- Take no action
If these alternative options don’t sound too appealing, you will find that an Equity Release is far more palatable.
There is further protection provided by the industry body, The Equity Release Council, who came into being in May of 2012. The Council is committed to protecting plan holders and promoting the reliable plans. The industry as a whole has welcomed the Code of Practice and some of the most prominent guarantees on offer include:
- The ability to stay in your home for a lengthy period of time
- The freedom to change homes without suffering any financial penalty
- The right to avoid negative equity, regardless of what happens in the property market
- The ability to obtain independent legal advice from a solicitor you choose
Choosing the right provider will also provide you with an added sense of confidence and expertise, ensuring you receive the highest level of support and advice at all times. Working with an independent expert will guarantee that you understand all of the positives and negatives that can arise from an equity release plan.
You should also ask yourself have you obtained enough information to make the most informed decision that will positively impact on your family. If you answer yes to this question, you should be confident that an Equity Release plan is perfect for your needs.
However, it isn’t an option that is right for everyone, which is why you should speak to an independent advisor who will examine your situation and provide you with the best solution for your needs. If an Equity Release plan isn’t right for you, you will be provided with an honest appraisal.
Your Equity Release adviser will be pleased to offer a consultation with no obligation and no initial cost. This will provide you with the perfect platform for determining what option is best for your needs.