The best buys in the equity release market can be found in the Equity Release Supermarket compare deals section.
The page contains a list of the current equity release schemes & best buys available in interest rate order. They are separated into drawdown, reversion & lump sum schemes for ease of use.
However, it should be noted that the lowest interest rates do not always equate to the best buy.
Independent finance advice should always be sourced from an equity release adviser who is qualified & obtained Certficate in Lifetime Mortgages including the top-up HR1 qualification.
The adviser should always conduct a Financial Planning Factfind, which gathers information on your current situation, your asperations & goals; not only currently, but just as importantly the future.
The reason being that there are many factors that can influence the advice as to which equity release scheme is most suitable; these include the interest rate, potential early repayment, moving house, inheritance & many more besides.
These factors must to be included in the equation & a good equity release adviser will consider all these, resaerch the whole of the market & present his recommendations.
The Equity Release Supermarket best buys tables are therefore only one piece of the jigsaw, but will provide basic information on the companies & interest rates available.
These separate the drawdown equity release schemes, home reversion schemes & lump sum schemes including brand names such as Aviva (formerly Norwich Union), Prudential, Just Retirement, Hodge Lifetime, Godiva, New Life Mortgages etc. Over 20 companies now have an equity release offering & hence the importance of obtaining ‘best advice’.
In summary the compare deals best buy tables provides you a good starting point in finding the competitive equity release rates, but in many cases you should seek the services of an equity release consultant, who can provide advice the best equity release mortgage rates from the whole market to fit your circumstances.
