What to expect from your equity release appointment

An equity release appointment is a way for your broker – or your potential lender if you’re not using a broker – to understand your circumstances and why you’re interested in equity release, and for you to learn more about what unlocking some of your property wealth entails. Ideally, by the end of your appointment you will have all the information you need to decide whether equity release is right for you.

Normally, an appointment will consist of you, your partner or anyone you own the property with, and your broker. If you do not wish to go through a broker and are communicating directly with the lender instead, you will meet with an advisor who represents the lender. Bear in mind that many lenders do not offer this direct route, however, meaning you may have to go through a broker regardless.

You may prefer to go through a broker or an independent financial advisor anyway, because they will be able to give you a balanced overview of the whole market, rather than try to promote products from one particular lender.

You may be asked for some basic personal details and information about your financial circumstances if you have not given this information already, as well as more details about your property and why you’re thinking about releasing equity from it. This is so that your broker or advisor can tailor their advice to your specific situation.

They will usually give a presentation explaining more about equity release and some alternative options you might not have considered. They will go through all of the plans available to you based on your age, the value of your home and how much equity you want to release.

There should be plenty of opportunity for you to ask questions of your own and raise any concerns you might have. Remember that there are no silly questions, particularly given what a complex product equity release can be.

Author: wpadmin

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