Call us on 0800 188 4826

Is equity release safe?

If you’re thinking of taking an equity release plan, you can rest assured that our advice is fully regulated by the Financial Conduct Authority and the plans we recommend meet the Equity Release Council standards.

Protecting your interests

It’s a Financial Conduct Authority requirement that you get appropriate advice before taking out equity release. At Mortgage Advice Bureau Later Life, you’ll only ever deal with qualified, specialist equity release advisers.

From start to finish, we’re here to make sure you do what’s most suitable for you – whether that’s taking advantage of your property’s value with an equity release plan or not. We’ll make sure you have all the facts and understand your options before you decide to go ahead.
 
All of the providers we work with provide plans that meet Equity Release Council standards and come with extra safeguards and guarantees. These include:
 

You’ll never own more than your home is worth

With the no negative equity guarantee you’ll never owe more than your home is worth. This also means you can never pass on any debt accrued through equity release to your loved ones.
 

You’ll still own your home

With a lifetime mortgage, the most popular form of equity release, you’ll still own your home and can stay in it for as long as you like, subject to your plan’s terms and conditions.
 

You can move home

All plans that meet the Equity Release Council’s standards allow you to transfer your plan to a new home subject to the plan’s criteria.

 

Extra protection and features

Some plans come with extra features, which may be right for your circumstances. Your adviser will explain them to you so you can find the right plan for you.

 

Downsizing protection

If you need or want to move to a smaller home in the future, your new property may not meet your provider’s criteria. As long as it’s at least five years after taking out your lifetime mortgage, with downsizing protection, available on some plans, you can pay your loan back without having to pay any early repayment charges.
 

Inheritance protection

Some plans offer inheritance protection with which you could protect a percentage of your home’s future value to be passed on as an inheritance when the plan comes to an end and the property is sold, no matter how much interest accrues.

 

Other lifetime mortgage features


Money when you need it: With a drawdown lifetime mortgage, you have the option of taking a lump sum initially, followed by smaller amounts as and when you need. You only ever pay interest on the amount you release.
 
Release more cash: If you have any health conditions such as heart conditions or diabetes or make certain lifestyle choices such as smoking, you may qualify for an enhanced plan and be able to release a larger sum of cash from your property.

 

Why choose Mortgage Advice Bureau Later Life?

We understand equity release isn’t for everyone, and we’ll never say it’s the right option for you unless we’re certain.

Everyone has different needs in later life, our equity release advice process brings together the professionalism of Mortgage Advice Bureau Later Life and Key Group – market leading specialists in equity release.

From start to finish, you’ll deal with equity release experts who will help you along your journey with advice that puts you in control.

 

Find out more

Calculate how much you could release with our free equity release calculator giving you results in seconds.

 

Things to consider:

  • We understand equity release isn’t for everyone, and we’ll never say it’s the right option for you unless we’re certain.
  • With a lifetime mortgage there are typically no monthly repayments to make as the loan, plus roll up interest, is repaid when the plan comes to an end. Usually, that’s when you, or the last remaining applicant, either passes away or moves into long-term care.
  • Mortgage Advice Bureau Later Life offer lifetime mortgages only, which is a loan secured against your home.
  • Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits. 
  • Mortgage Advice Bureau Later Life offer lifetime mortgages from a carefully selected panel of providers.
  • Unless you decide to go ahead, our service is completely free of charge as our usual advice fee of 1.5% of the amount released would only be payable on completion of a plan, subject to a minimum advice fee of £695.