Equity Release Information from the Equity Release Expert

Equity Release Advisor says: Low interest rates are good news for mortgage holders but it is not so for savers. Pensioners, having worked so hard for the savings that they have built up, are losing out.  It comes as a bitter blow that they are now getting such a poultry rate of interest on their savings.

They may have better news in a different way.  Equity Release offers a method for them to increase their income by utilising some of the value of their home.  There are several ways of doing this and they should proceed with caution, but Equity Release might be a good answer for them.

In essence, a home owner takes out some sort of loan against their house, or sells a part of it, and gains either a cash lump sum or a regular income as a result.  There are small, if any, monthly repayment in the most cases. The total amount outstanding is repaid to the lender when the home owner passes away.  This gives the assurance to the pensioner that they have an income for life and they also get a guarantee that they can live in their property for the remainder of their life.

Equity Release got a bad name in the 1980s but things have changed dramatically.  Schemes are regulated by the Financial Services Authority (the consumers’ champion for finances).  Pensioners taking out Home Reversion or Equity Release receive a great deal of protection in the way they are advised and have an excellent redress should they have cause for complaint.

Also, people can gain further confidence by ensuring that any Equity Release Plan that they use is a member of SHIP – Safe Home Income Plans.  They make certain that their members are being straightforward with their clients and that they are treated correctly.

Pensioners researching considering Equity Release should also visit www.Equity-Release-Expert.co.uk which gives a great deal of guidance about the subject.  Help in choosing an Equity Release Advisor can be found at