consider Could now be the time to switch your equity release plan?

Average equity release interest rates have dropped over the past five years. With a current low rate of 2.50%, now could be a good time to review your current plan and potentially take advantage by switching to a new deal.

It couldn’t be easier

Whether your original plan was arranged through Mail Finance or not, we may be able to secure you a better deal by switching plans, or you could even potentially release more tax-free money from your home. If you’ve had an existing lifetime mortgage for 12 months or more, then you could receive a free, no-obligation review to find out if you could access a better deal than previously available to you. Mail Finance works with the UK’s number one equity release adviser*, Age Partnership, whose team of fully qualified advisers will compare the whole of the market to make sure that your plan really still is the best option for you.

Save more through low interest rates

Lifetime mortgage interest rates are fixed for life, and with leading lenders such as Legal & General, Canada Life and Pure Retirement currently offering some of the lowest rates we've seen, switching plans could save you thousands of pounds over the course of the plan in interest when compared to your current arrangement.

Plus, Nationwide has reported average UK house prices have risen by nine per cent in the past three years alone, meaning that you could release more cash from your home.

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 and that you consider advice from a specialist such as Age Partnership. It will discuss the following, as changing your plan will depend on; Whether you qualify for the latest plan developments Any changes in the value of your house The amount outstanding on your current plan including accrued interest Any potential early repayment charges that may be applicable. Equity release may affect the amount of inheritance you can leave and your entitlement to means-tested benefits now or in the future. Equity release may involve a lifetime mortgage which is secured against your property. To understand the features and risks, ask for a personalised illustration. Equity released, plus accrued interest, is to be repaid upon death or moving into long-term care. We provide initial advice for free and without obligation. Only if you choose to proceed and your case completes would a typical fee of £1,795 be payable. Call free to discuss your existing plan on 0808 239 8858 or visit mailfinance.co.uk/review