guide to equity releaseunlock equityEQUITY RELEASE GUIDE 
UNLOCK YOUR EQUITY
LIFETIME MORTGAGE OR HOME REVERSION ?


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WARNING

Increasing your income or savings can affect your entitlement to benefits.

Check out other options such as local authority grants and your entitlement to benefits

Always take professional advice and consider carefully all your options before entering into any Equity Release contract


 

How To Release Equity

Releasing equity from your home is not as complex as you might think, however before deciding to do this you should seek a professional advice from an adviser qualified to show you the various options on how to release equity. Always check the firm or company giving advice with the Financial Services Authority register to ensure they are qualified in this area of advice. For additional peace of mind make sure that whatever contract you enter into meets the standards laid down by SHIP Safe Home Income Plans.

Steps To Releasing Equity

STEP 1
: Contact an Equity Release professional adviser in order to discuss your needs and reasons for releasing equity from your home. They can explain the various methods available so that you are able to consider all your options. At this initial meeting your adviser will provide you with information concerning the key facts about the services they offer and their terms of business in dealing with you. Make sure you fully understand how much their fees will be and when and how they are to be paid. There will also be other fees payable to the product provider such as valuation, administration, application and solicitor fees. These fees will be fully documented once your adviser has found a suitable product from one of the equity release providers. This is the most sensible and safest way for you to consider how to release equity from your property.

STEP2: Then take time out to consider these options. Why not discuss them with members of the family or even better have them present at the initial and follow up meetings with your equity release adviser. Do not feel you have to rush into making a decision, take your time be sure you are comfortable with the pros and cons of how to release equity from asset of your home.

STEP3: After your adviser has done their research you should then receive a document detailing the key facts, features and fees associated with the particular scheme that is being recommended. Again it would be sensible to have members of the family together when your adviser presents whatever equity release product is being recommended.

STEP4: Go through this illustration with your adviser and ask questions concerning anything you are not sure about or fully understand. Again with other members of the family involved this will make sure that everyone is aware of what is invoved and the pros and cons of choosing this method of releasing equity.

 


The information contained throughout this site is not to be taken as advice or recommendation in any way. It is intended to give you an overview of what is available within the Equity Release market. Always seek professional advice before entering into any Equity Release contract.

Life Time Mortgages ~ What Is Equity Release ~ How To Release Equity ~ Equity Release Calculator ~ Guide To Equity Release

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