FAQ Category: Equity Release FAQ's

Can I move home?

Yes – a lifetime mortgage gives you the right to move to a suitable alternative property. There are some properties which may have restrictions based on the ability to sell the property on the open market when your plan comes to an end. Your financial adviser will be able to explain this in further detail.

Will I need to change my will?

We would recommend that you review your will when taking out a lifetime mortgage. You don’t normally have to alter your will but it will depend how it’s written.

Will a lifetime mortgage affect my benefits?

Any money released from a lifetime mortgage could affect means-tested benefits such as Pension Credit and Council Tax Credit. Your state pension is not affected and neither are any benefits based on disability or health. It’s important that you discuss any implications with your financial adviser.

How do I know if my adviser is qualified or not?

All of our lifetime mortgage advisers are fully qualified to provide lifetime mortgage advice and hold the Certificate in Regulated Equity Release (or equivalent) qualification. Paul our advisor holds the CeRER, CeMAP

What is the Equity Release Council?

The Equity Release Council (ERC) is an organisation that was created to promote and support providers offering equity release products. The council is committed to ensuring that consumers are safeguarded and providers offer products that meet the Equity Release Councils rules and principles.

Will my family end up in debt because of equity release?

No, all equity release schemes offer a no negative equity guarantee meaning that when you finally repay the debt (when you or the last person dies or goes into long-term care) the amount to be repaid will never be more than the value of your home (provided the T