Do you have an existing equity release plan?
With new exclusive plans now available, you may be able to save thousands of pounds in interest by reviewing your existing equity release plan.
Whether Mail Finance arranged your original plan or not, we may be able to obtain a better deal by switching plans, or you could potentially release more tax-free cash.
Providing you’ve had your existing plan for more than 12 months, Age Partnership's specialist advisors will compare the whole market to make sure that your plan really still is the best option for you. The current low rates could mean that there may be a better plan for you which could save you thousands of pounds in interest over the course of the plan, when compared to your current plan.
Even if your current plan has early repayment charges, there could still be savings to be made because of the current low rates. It is worth taking advantage of the free plan review, as you’re under no obligation to go ahead with anything that is suggested to you.
Your free plan review could also be the perfect opportunity for you to access more tax-free cash and you may also want to take a look at some of the new plan features that may not have been available when you first took out equity release, such as:
The option to access your tax-free cash as an income rather than a lump sum
Greater alternatives for how and when you choose to make repayments
The ability to access a cash reserve at a later date, so you’re not accumulating interest on money that you don’t need right now
During the free review the advisor will let you know if switching plans is right for you, providing you with the full information, including discussing whether you qualify for the latest plan developments.
The amount outstanding on your equity release plan, including any interest that you have accrued and any potential early repayment charges, will also be talked through. They will also discuss what impact equity release could have on the amount of inheritance you can leave and how it could affect your entitlement to means-tested benefits, either now or in the future.
TO FIND OUT MORE INFORMATION ON NEW EQUITY RELEASE PLANS AVAILABLE AND TO REQUEST YOUR FREE PLAN REVIEW, CALL US ON 0808 239 8858, OR VISIT US AT WWW.MAILFINANCE.CO.UK/REVIEW.