What does equity release advice look like?
Deciding whether equity release is the right choice for your financial situation is a crucial first step. That’s where the expert guidance of our selected advisers comes in. Every homeowner has unique circumstances and goals, and we want you to make a fully-informed decision.
So, when you reach out to us for equity release advice, here’s what you can expect:
Arrange your appointment
Your journey begins when you first contact our friendly team at Equity Release Wise. We will gather a few important details about you and carry out a quick eligibility check.
If you meet the criteria, we will arrange an appointment with one of our selected equity release advisers. You have the option of having friends or members of your family join you for the appointment if you wish.
Your adviser will take the time to get to know you and your current financial situation, together with your future goals.
You can ask any questions you have and find out about the different equity release options available. For example, you can explore the differences between a lifetime mortgage and home reversion plan.
If your adviser thinks that equity release is not the best financial option for you, they will tell you. There are many alternatives to equity release to consider, which your adviser will be able to explain to you.
Your adviser will go away to consider your unique wants and goals for retirement. They will also search for the most competitive equity release plans and quotes for you.
They’ll look for the best available interest rates, together with other options they will have discussed with you. These might include interest payment options and inheritance protection for your loved ones. They will also look for medically enhanced equity release plans that may let you release more if you have health issues, if you qualify.
After conducting a search on your behalf, your dedicated adviser will arrange a second appointment with you. During this appointment they will present you with a personalised recommendation of what they believe is the best option for you.
They will explain the advantages and disadvantages of each type of plan so you can make a fully informed decision. You are then left to make a decision in your own time: there is of course no pressure to make a decision at this point.
If you decide to go ahead with a plan, your adviser will guide you through the application process. After checking that everything is in order, they will submit your application on your behalf and provide updates at every stage.
Accessing legal support
It’s important to get specialist equity release legal advice, since this is typically a lifelong commitment. That’s why your adviser can recommend an equity release solicitor to handle the legal side of your application.