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Things to consider if you already have a plan

Releasing equity from the home is not a solution for everybody. The efficacy and suitability of an equity release product is dependent upon the financial and personal situation of the individual.

Whilst an equity release product may be an ideal solution for one person, it may be inadvisable for their next door neighbour.

Equity release may involve a home reversion plan or a lifetime mortgage which is secured against your property. To understand the features and risks, ask for a personalised illustration.

Additional fees and early repayment charges will also need to be taken into account if you wish to switch plans. In our recommendation to you we will take all these costs into consideration.

Age Partnership's qualified equity release advisors will discuss your options with you. They will explain everything to you, including if your entitlement to current and future means-tested benefits could be affected and what impact equity release could have on the size of your estate.

During your free, no–obligation review the advisor will check if you qualify for the latest plan developments and will outline the amount outstanding on your existing equity release plan including any interest that has accrued. They will also confirm if you will have early repayments charges to pay.

Plans from the whole of the market will be considered, the features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide you with an enhanced amount.

We provide initial advice for free and without obligation. Only if you choose to proceed and your case completes would a typical fee of 1.95% (minimum £1,495) of the amount released be payable.

There are a number of alternatives to releasing equity from the home, which can be pursued if an equity release product is deemed unsuitable. Options such as downsizing the property could be the wiser option to free up additional funds in retirement. The Age Partnership team will freely discuss all options and solutions during the no-obligation discussion.


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Things to consider

As a valued Age Partnership customer we would like to provide you with a free, no-obligation equity release plan review to discuss the following, as being able to change your plan will depend upon whether you qualify for the latest plan developments, the amount outstanding on your equity release plan including interest that has accrued, any potential repayment charges that may be applicable and any impact on the size of your estate and if your entitlement to current and future means-tested benefits could be affected.

Equity release may involve a lifetime mortgage which is secured against your property. To understand the features and risks, ask for a personalised illustration.

Plans from the whole of the market will be considered, the features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide you with an enhanced amount. Any money released, plus accrued interest would 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 1.95% of the amount released be payable (minimum £1,495).