Equity release

Do you have an existing equity release plan?

Over the past year, average equity release interest rates have hit record lows. With a current low rate of 2.6%1 APR, 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 the Mail Finance equity release service, or another provider, we may be able to get 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 was previously available to you. Mail Finance work with the UK’s number one equity release advisor*, Age Partnership, whose team of fully qualified advisors 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 currently offering low rates, switching plans could save you thousands of pounds over the course of the plan in interest when compared to your current arrangement.

Plus, Nationwide have reported average UK house prices have risen by nearly nine per cent in the last three years alone meaning that you could release more cash from your home to spend on anything else you wish.

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 seek advice from a specialist such as Age Partnership.

They will discuss the following, as being able to change your plan will depend upon;

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 any 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.

To request your FREE plan review, call 0808 239 8858.