When it comes to all things equity release, you would be hard pressed to find a more experienced team of professional advisers than at Cheshire based Equity Release Supermarket. Gaining equity release advice is imperative to ensuring you have the right product for your situation. Not all mortgages are the same and you also have the home reversion plan that comes into play.
Research shows Equity Release Supermarket was formed in 2008 and provides a national equity release advisory service that offers the best equity release deals from the whole of the marketplace. With 10 equity release advisers located from areas of the country such as York down to Poole in Dorset, Equity Release Supermarket can provide equity release advice on a local basis anywhere.
Equity Release Supermarket can offer advice either over the telephone or face-to-face in the comfort of your own home. All initial meetings are free of charge and if an equity release application does proceed, then any charges are only made once the whole process is completed. They are confident their expertise and legal contacts can ensure that the 6-8 week application duration passes as smoothly as possible and with one of the lowest fees on the market certainly offer excellent value for money.
What currently are the best equity release deals?
With more companies and more innovation in the equity release market, new products are being launched and with long term interest rates being so low, this has been passed onto the interest rates on equity release schemes.
Equity Release Supermarket founder, Mark Gregory, stated ‘now is a great period for the equity release market. Having previous experience with the likes of Norwich Union (now Aviva) I have seen the more uncompetitive side to these products when they were first launched with interest rates of over 8%.
‘Compare this to today’s interest rates with companies such as Aviva which now start at 5.68%, bringing with it cashbacks of £1000 and even free valuations thrown in. In fact, now has never been a better time to take out an equity release mortgage.’
Equity Release Supermarket Just Gives you the Details
The Supermarket provides you with a place to start researching what the best deals are; however, you have to make decisions on your own and with your family to help you decide what is the best for all of you. It is important that your family be a part of the decision as it could affect their inheritance in numerous ways.
Home reversion is one type of product you will find for equity release. This option will require a partial sale of your home. You could also sell the entire home if you wanted to, but retain the right to live in the home until you die rent free. It just depends on your monetary situation. The drawback is that your family is not going to be able to keep their home. The good news is there is inheritance protected for your family as you can withhold a certain portion of your home to be sold upon your death or when you move out. In this way you know that your family is going to get a few funds.
Lifetime mortgages on the other hand may not leave behind an inheritance or the family home depending on the monetary situation. If you take too much of the equity out or take it out for too long you run the risk of housing devaluation, interest compounding, and overall losing the home to a sale upon your death or moving out to a new place. Even though this is a worst case scenario concept this does not mean there aren’t products that could help you.
Utilise these products wisely, compare on the Equity Release Supermarket website and find the best deal that suits you rather than the best deal that might suit someone else. You can decide what works best for your situation and how you want to use the money to better your retirement. You might even consider giving the money in small gifts that will not be the target of inheritance tax throughout your retirement as a way to leave something behind for your children and beneficiaries.
So, if you are considering those long awaited home improvements, a holiday abroad, new car or just some extra spends to enjoy life’s little luxuries, contact the equity release experts – Equity Release Supermarket on 0800 678 5159. Get your equity release advice today and solve any money issues you might have.