Making Informed Decisions on Home Equity Release Comparison
Thank you for visiting our EquityReleaseCompared website. Through our site, we aim to provide you with information about the UK equity release market drawn from a panel of providers meeting the most common client needs, and an equity release comparison of what is on offer at any time, to help you decide the right route for you.
We are not aggressive sales people, just providers of relevant, comprehensive information designed to help you make informed decisions for your future. If you like what you see on this site, we’ll be pleased to help you take matters further.
All of us of a certain age recognise that the ‘Baby Boomer’ generation is now fast approaching retirement and beyond, making the importance of home Equity Release as a means of raising lump sums from their homes ever more significant. Homes now represent a significant proportion of family wealth, though the state of the economy over recent years has left many people with stretched household budgets. This has resulted in many people being asset rich, but cash poor, with little awareness of how to deal with this situation.
Our website is packed with useful information, up to date lenders, interest rates and the various types of equity release products available. To see what equity release is available to you, use our simple equity release calculator
Please browse through our site to find what you need in order to help make your decision which suits your needs. If you don’t find an answer for your situation, please feel free to challenge us to find an answer!
What Equity Release Products are Available?
Products available can vary considerably and there are some lenders who set aside a limited fund to cover equity release from time to time. Therefore once these funds have been allocated, they will exit the market until they feel the time is right to make more funds available. As a consequence, it is important to check with us for the ‘up to the minute’ players in the market.
You should take independent specialist advice about equity release and check the home equity release comparison before you sign up to any equity release plan.
Although there are now many safeguards to protect you, you should still ensure that you are aware of all of the implications before entering into a Lifetime Mortgage.
The following are some points to consider:
Because the funds that you release, plus any interest accrued, are paid back from your estate once you pass away, a lifetime mortgage will reduce the value of your estate and the amount that you will be able to pass on to your beneficiaries.
It is possible that the additional funds made available to you through equity release could affect your entitlement to means-tested state benefits.
Two alternatives to releasing equity are downsizing to a cheaper property and/or taking in a lodger.
Some home equity release plans impose an early-repayment charge, so you could incur charges should you wish to pay them off before your death. However, like a standard mortgage, these will vary from plan to plan, reinforcing the benefit of specialist equity release comparison advice before you proceed.