The Right Equity Release Ensuring you choose the Right Equity Release
Ensuring you choose the Right Equity Release
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Have You Reviewed Your Equity Release Scheme Recently

21/09/2010
Right Equity Release
Anyone who has a lifetime mortgage equity release scheme is advised to review it regularly.

Lifetime mortgages are linked to the current rate of interest, in the same way as a normal mortgages.  It is therefore important to keep track of the interest rate being charged by your equity release provider, to ensure that you are not paying more interest than necessary.  Unlike conventional mortgages, you do not pay into your lifetime mortgage on a monthly basis, however you will be charged interest on the loan.

A considerable amount of money could be saved by changing your equity release scheme to a new provider with lower rates of interest.

There may be early redemption charges on the loan and charges to move the loan to a new lender, which need to be assessed.  It is worth appointing an independent financial adviser specialising in equity release schemes to provide you with advice.

Those who already have equity release and would like to know how much money can be saved by switching lenders can find out by contacting therightequityrelease.co.uk for specialist equity release advice.

 
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