We have previously posted blogs about Equity Release, what it is and how it is an improving market for customers. This blog will give you a very brief example of how Equity Release is improving for the benefit of its’ customers.
As with mortgages, providers are identifying a need to make the products they offer competitive. Alongside this, they also need to ensure that the products conform with the regulations surrounding Equity Release products. As mentioned in ‘Equity Release plans – Are they safe as houses?’, many of the better providers are also registering and agreeing to the code of conduct as set out by the Equity Release Council.
As a result, the charging structure is being changed by some providers. Some will now no longer charge you the valuation fee up front and instead are building it into the overall costs of the plan up to a specified property value. The idea behind this is to help you with those often expensive up-front fees.
If Equity Release is something you think you may be interested in, we have two qualified advisers who can advise you on the process. If you would like to contact them you can do so using the links below.