Do you have an existing equity release plan?

Over the past year, average equity release interest rates have hit record-lows. Now that we are starting to see them rise again it could be a good time to review your current plan and potentially switch to a new deal with a lower rate before they rise further.

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 that previously available to you. Mail Finance work 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 Aviva and LV= 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 have reported average UK house prices have risen by nearly 15 per cent in the past three years alone meaning that you could release more cash from your home to enjoy spending.

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.

They will discuss the following, as changing your plan will depend on;

D Whether you qualify for the latest plan developments

D Any changes in the value of your house

D The amount outstanding on your current plan including accrued interest

D 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