Types of 'Equity Release' Products
There are a large number of providers and products that are on the market today and this is likely to increase. To avoid confusion we will complete a 'Fact Find' about your own personal circumstances and then we will make a recommendation to you, based upon the information that you provide us with.
Before considering an equity release plan, there are other options that may be available to you that we will explore with you. These include seeking out whether a local authority grant is available to you for home improvements; or perhaps there are some benefits that you can claim that will increase the level of monthly income you receive. There is also the possibility of funding some form of more conventional mortgage, perhaps on an interest only basis.
Once our advisers have discussed with you and explored all of these options, then we will advise you upon the two main types of plan. One is called a Lifetime Mortgage and the other is a Home Reversion Plan.
These types of plans, and much more, are explained in more detail in our guide that you can download and read at your leisure. This guide also poses questions as to why you wish to explore an equity release plan and we ask that all our clients read this guide as a starting point when discussing your options with our advisers.
Unlike many companies that offer advice in this area of financial planning, our guide to equity release can be downloaded without the need for you to pass over personal information before being sent a guide. We believe that on each step of this process you should be allowed to make a decision without intrusion. So please feel free to download our free guide even before you contact us.
We hope that by providing you with information in this manner you will gain reassurance that, firstly you will not appear on an unwanted mailing list, and secondly your personal details are indeed kept personal.
You should think very carefully about this information. If you are at all unsure about which equity release transaction is right for you, then you should ask your adviser to make a recommendation. We also offer advice on home reversion schemes and conventional mortgages, either of these products may be more suitable to your own circumstances.