Ask ERIC/Cavendish equity release review?

purpledonkey

Hello MSEers.

My mother has recently retired and is looking to go for equity release with Ask ERIC (AE) formerly known as Cavendish, where AE would be named on the mortgage but not own the house outright. Just wondering if anyone has used this company before and have any reviews of them? I just want to make sure that they are not a rogue company. Any help would be greatly appreciated.

Bobthebank

I have heard of these guys up in Leeds. I would always recommended a face to face home visit with an independent specialist. Responsible Equity Release offer this and have an excellent reputation. Like Cavendish they are the advisers and can look at all the different equity release lenders to get the best deal. Just to clarify how it works, you still own the home but the debt plus interest each year is paid back from the equity on death. There are now options to pay interest if you dont like the thought of interest adding up.