Compliance issue with Equity Release application

Dekalbkid

We are looking for equity release to pay off our existing mortgages as explained :-

We want equity release as our current mortgage (interest only) is in four parts, one has already come to the end, one finishes in November, one next February and one in five years time so we need to pay off them all in one hit. Our financial adviser has told us to ask the Building Society to defer the first three parts of the mortgage to the end date of the fourth part i.e. 5 years time, but the whole point of having equity release was to allow one of us to retire and still keep the bungalow.

Our financial adviser has told us to contact another firm of financial advisers - Just RetirementSolutions to see if they can help. What difference will this make?

We are now losing the will to live - good job we don't have a gas oven!

Thrugelmir

Why not continue working for a while longer and reducing the mortgage debt you owe. Before dropping to one salary/income.

If your mortgage repayment is £1,000 per month. Sounds as if you've still a sizable amount of mortgage debt outstanding.

dunstonh

Our financial adviser has told us to contact another firm of financial advisers - Just RetirementSolutions to see if they can help. What difference will this make?

It means your financial adviser is not authorised to do equity release. So, they are referring you to Just Retirement (a product provider) to do it for them.

chanz4

or its a spam post