How to Find Equity Release Advice

Equity release can be a good way to generate an income and take advantage of one of your most valuable assets—your home. Before you consider this option, you need to find equity-release advice to ensure you make the right decision.

What is Equity Release?

If you are over 55 and you own your own home, equity release can be a fantastic way to take advantage of your home, especially if you’ve put a lot of effort into acquiring your home fully, through paying the mortgage for many years. It's time to have it pay some of this effort back.

There are two options available: the Lifetime Mortgage scheme and the home reversion scheme. Both allow you to release some of the equity (cash) tied up in your home, either as a lump sum or as an additional regular income to your pension. 

Although equity release is a useful way to provide you with financial security, it might not be the right option in all circumstances. For example, taking some of the equity out of your property today will understandably mean there will be less available for your estate in the future and if you are in receipt of means-tested benefits, supplementing your income with a tax-free cash injection could affect your entitlement to these.

Your Reader's Digest Equity Release adviser will guide you through the risks and, if equity release is right for you, recommend one of a range of carefully selected products from Equity Release Council lenders designed to offer great value for you and your family, both now and in the future.

Take advantage of government websites

If you want to find general advice to help you understand your rights better, an official government website is a good place to start. The Money Advice Service has plenty of information regarding private equity.
In addition to articles on the subject, you can also have a chat during normal office hours or call the impartial advice number for more information. These resources are great for understanding the basics and for acquiring information on how you can  protect yourself and your home. Be sure to read the advice and informative articles throughout our equity release section as well.

 

Make use of equity release calculators

A great place to start if you are interested in finding out if equity release could be right for you is to make use of an equity release calculator. Our free online calculator will give you an idea of how much equity you might be able to release, based on the key factors of both your age and estimated property value. These figures should give you an idea of if equity release is something worth seeking out in your situation, and what could be achievable with your release amount.

As there are other factors which lenders consider for a Lifetime Mortgage, you can give our Information Team a call and receive a more accurate breakdown of the options available to you. You can contact us on 0800 029 1233 to discuss your needs and find out more about how equity release could help you. 
If you are ready, you can also call to arrange a no-obligation appointment with one of our financial advisers, who will take you through the benefits and risks and provide you with a personalised illustration.
 
A Lifetime Mortgage may impact the value of your estate and could affect your entitlement to means-tested benefits. Think carefully before securing other debts against your home. To understand the features and risks ask for a personalised illustration. Reader's Digest Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/) under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. Our adviser will talk through the setting up costs of a Lifetime Mortgage before you make any decision to proceed.
 

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