How to Choose an Equity Release Advisor
In this guide, we’re looking at how to find the right equity release advisor. It’s important to know exactly how equity release works and how it could impact your finances. Some of the below guidelines apply to acquiring any type of mortgage, but with equity release having its own specific lending criteria and regulations, it’s important to know exactly what’s involved and what’s expected of you.
There are plenty of benefits, but you should know if there are any risks or notable conditions. There may even be other options that could work better for you; these are all key points your advisor should discuss with you.
What to check when choosing an equity release advisor:
- Are they FCA-authorised?
- Are they a member of the Equity Release Council?
- Look for a Whole of Market, later-life specialist.
- Make sure they’re happy to discuss alternative options that could address your needs better.
- Are they equity release specialists with plenty of experience?
- They must take the time to get to know your financial circumstances and why you would like to release equity.
- You can always ask around with friends and family to find out who has had a positive experience with a broker. Or, you can refer to third-party review sites for impartial insight. Look out for those glowing 5 or 4 star reviews.
It is an increasingly popular mortgage type for people over 55. However, just because something is popular doesn’t mean that it’s necessarily right for you. If it is, then you need a broker who can access various lenders to secure the right loan.
Contact our Equity Release Mortgage Experts today. Fill out our contact form or give us a call to book your free initial consultation.
*Equity release is not right for everyone and may reduce the value of your estate. A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home. Please note that Agentis is unable to provide advice on home reversion plans.
