Do you have an existing equity release plan?

In the same way that you can remortgage on a standard mortgage, you can also do the same with equity release. If you have an existing lifetime mortgage that’s one year old or more then you could look into reviewing your original equity release plan to see if you could access a better deal than was previously available to you. Current market conditions The current economic uncertainty coupled with record low lifetime mortgage rates, which are fixed for life, may mean that you consider accessing some additional money from your home. You can speak to a specialist member of the Mail Finance plan review team to find out if releasing additional funds is an option for you. Get advice Changing your existing equity release plan isn’t right for everyone and it’s important that you understand what it could mean for you. Through the Mail Finance Equity Release Service, your advisor will be able to explore the wide range of plans that may not have been available to you previously. Some of these plans now come with added features and benefits. Your advisor will provide you with a free plan review quotation with no obligation to proceed. So you have nothing to lose by checking if you’re still on the most suitable plan for your needs. It’s worth noting that being able to change your plan will depend on whether you qualify for the latest plan developments, as well as a few other factors that your advisor will go through with you, such as; change in the value of your house, the amount outstanding on your existing equity release plan, including interest that has accrued and any potential early repayment charges that may be applicable. They will also discuss the effect that changing plans could have on the amount of inheritance you can leave and if your entitlement to means-tested benefits could be affected now or in the future.