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Hundreds of thousands of UK consumers and businesses have been using our FREE Online search tools over the last 10 years, saving themselves bags of time and a small fortune in money.

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Equity release schemes enable you to take advantage of the value of your property in a secure way.

You can safely unlock the cash built up in your home without having to move house and normally with no monthly repayments.

With an equity release scheme some of the value of your home can be turned into a tax-free cash lump sum or an income for life.

This could help you to enjoy a more comfortable retirement.

Today’s plans for equity release are increasingly flexible and adaptable to householders needs.

Interest rates are generally comparable with ordinary mortgages.

I’m considering equity release – What should I do now?

Compare Equity Release is a comparison site that focuses on equity release schemes approved by SHIP . This website was created to show you how you can easily unlock the cash from your home with equity release and helps you to get information on the topic and to find competitive equity release plans. Please use our calculator opposite to gain access to this.

Why should I get independent specialist advice?

When considering a big financial commitment like equity release, we suggest you get expert help to fully understand the advantages and disadvantages. There are a variety of equity release schemes and a trained and qualified specialist adviser will be able to tell you all about them. Getting the support of an independent specialist adviser also means that you have access to a wide choice of equity release schemes, since the adviser is not limited to a specific provider. An equity release adviser will be able to recommend a plan that fits your individual circumstances and set out clearly any of the fees involved in an equity release plan.

Am I at risk when house prices change?

All SHIP (Safe Home Income Plans) approved plans come with a "no negative equity" guarantee that protects you against the negative impact of falling house prices. This feature ensures that you will never owe more than the value of your property. You still continue to benefit from any rises in house prices, adding to the value of your home, unless you’ve released all of the equity already with a home reversion plan.

When do I have to repay the loan?

With an equity release scheme there are typically no monthly repayments required. The loan is repaid when the house is finally sold, which usually happens on your death or when you move into long term care. If you have a partner, he or she could remain in the home, since both partners obtain the right to stay in your home for as long as you wish. There is commonly the possibility to repay the loan early, but some providers apply an early repayment charge in that case.

I’m receiving state benefits – Would equity release affect them?

Receiving extra money through an equity release scheme could have an impact on your entitlement to state benefits. You should seek the help of an independent specialist adviser who can create a personalised report and show you how equity release will affect your current situation. Just fill out the form opposite to gain access to this advice.

Safeguards

Equity Release schemes have come a long way since the late 1980's when the whole industry became tarnished by schemes which were introduced.

They involved cash being raised using a mortgage with a variable interest rate.

The cash was invested in stock market investments such as investment bonds, again with a variable rate of return. The intention was that the income from the investment paid the monthly mortgage interest and the surplus income was yours to spend as you wish.

There were no safeguards built into these schemes. When interest rates began to rise and the investment returns fell, plan holders were left having to pay the shortfall on the mortgage repayments.

Many even faced the possibility of losing their homes.

As a result of this, these types of schemes were effectively banned in 1990 as unsuitable and dangerous.

As an antidote to this event an industry body was set up in 1991 called 'Safe Home Income Plans', referred to as 'SHIP' . Safe Home Income Plans are widely recognised for its work in protecting plan holders by promoting only safe equity release schemes.

If you'd rather speak to one of our Senior UK based equity release advisers in confidence, instead of using our online search tool, you can do so FREE of charge.

You'll be routed straight through to our senior support team, based in the UK.

Just call our helpline below, in confidence, at any time.

☎ Tel. 0113 897 0603

About Us

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