Our equity release service.
Our equity release advisers work to a strict advisory guideline to ensure our clients financial needs are our main priority. We are not a sales company and we are not here to sell you a particular plan or scheme. We are industry professionals providing a high level of service within the equity release market. As a minimum, you an expect the following considerations from our equity release team.
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Equity release advice
- We will ask you to consider alternatives to equity release such as trading down, grants, savings, family and so on. Where equity release is appropriate we will explain how we get paid and agree a fixed fee at outset to avoid any misunderstandings or concerns aboiut selling the plan with most commission.
- We will bring to your attention your possible eligibiity to state related benefits & where possible provide contact details to make further enquiries. We can also assist with sourcing cheaper utility providers and insurance arrangements if required.
- We will consider your current and future tax position before we make a recommendation, this will allow for the age related benefit for example for clients over age 65.
- We will advise you discuss your arrangements with family or beneficiaries and for all applicants to take independent legal advice. We will discuss methods for family raising finance if this is preferred.
- We will discuss your healthh & life expectancy and consider changes in property prices. This will include discussing the impact equity release can have on your estate planning. We will also discuss how ill health can enhance your benefits in certain circumstances.
- We will only recommend equity release if we feel this is appropriate. Where we do recommend equity release we will ensure this is the most suitable and that the benefits outweight any disadvantages. Wherever possible our solutions will be from members of S.H.I.P to provide addtional client protection.
- We will not recommend or support the release of funds for re investment for example stocks and shares.
- We will discuss your immediate and future needs including whether you intend moving home, ongoing property maintenance and insurances.
- We will recommend the amount released reflects your demands and needs and is approrpiate for your attitude to risk. We will not encourage you to borrow more than required or impose a minimum level of borrowing.
- We will advice and review your expenditure and help prepare a budget plan if necessary to help decide when and how to drawdown your funds.
- We will provide a written recommendation in plain English to help you understand our advice to you. Will will also provide after sales support to provide ongoing advice on your equity release and other areas of financial planning if needed.
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