Is Equity Release right for you?
Rightfor%20you.jpg

What to consider before taking out a plan…

Ensure your best interests are being served

One of the great advantages of Yours working in partnership with the UK’s No.1 equity release specialist, Key Retirement, is its independence; so you can be safe in the knowledge that Key will search the whole of the market to find the best plan possible for every customer. 

Involve your family

Key actively welcomes the involvement of your family, including having them there during the consultations so they’re fully aware of all the necessary details too.

Be aware of the implications

All equity release plans will reduce the value of your estate and may affect your entitlement to means-tested benefits. Key’s specialist advisers will use their unique benefits software to find out which benefits, if any, would be affected. 

Understand how the interest will be calculated

Choosing to release cash from your home is a lifetime commitment, as it is only expected to be repaid when you die or move into permanent long-term care. Your adviser will explain the early repayment charges which may apply if you decide to repay the plan early. They will also help you to understand how the interest on a lifetime mortgage is compounded, and how the amount you owe can grow quite quickly.

Know which fees are charged by who

Key Retirement offers a full advice and recommendation service to ensure you get the best plan possible. Unless you decide to go ahead, its service is completely free of charge, as its typical advice fee of 1.65% of the amount released would only be payable on completion of a plan. There may be application fees and a survey fee to pay upfront for the plan as well as solicitor’s fees. 

Be confident your best interests are paramount

Key is proud to be a member of the Equity Release Council, ensuring that you can obtain quality and trusted advice on releasing cash from your home.

 

  • To find out more about unlocking cash from your home, speak to one of our experts today by calling FREE on 0808 156 9010, or download your copy of our FREE Guide.
  • Instant results await – use our FREE online calculator to see how much you could release.