Frequently Asked Equity Release Questions
1. Is Equity Release Safe?
All equity release plans are now fully regulated by the Financial Services Authority, an independent body that insures certain standards are met within financial services.
In addition, all the equity release providers recommended by Expert Equity Release are members of SHIP (Safe Home Income Plans). SHIP is an organisation dedicated entirely to the protection of planholders and their plans include a ‘No Negative Equity Guarantee’. This means that you will never owe more than the value of your property, nor leave a debt to your estate.
2. Who Will Be The Legal Owner Of My Property?
With a Lifetime Mortgage the ownership of the property remains with you during the life of the loan.
With a Home Reversion scheme all or part of your property will belong to the reversion company
3. Why Should I Consider Equity Release?
We have all read about the rise in house prices in recent years and depending on when you bought your property your home has probably risen in value too. Many people have far more money in their home than they do in any other investments or savings. Equity Release gives you the opportunity to make the capital in your home work for you. As our Equity Release Advice is only given by qualified advisers you can be safe in the knowledge that any advice given will be tailored to suit your needs and requirements.
Equity Release includes Home Reversion plans and Lifetime mortgages. To understand the features and risks ask for a personalised illustration.
For Equity Release advice you can choose how we are paid, pay a fee, usually £1150 and we will rebate the commission, or choose to pay a lower fee, typically £595, and we will receive commission from the provider.
