Switching equity release mortgage

skylarking953

Asking on behalf of my lovely 84 yr old mum....

She has an Equity Release Lifetime Mortgage from ITL Mortgages (administered by LV Equity). It's for £134,000

Key Equity Release have written (unsolicited) saying they could get her a better deal with advice fee of 1.99% (seems like a lot to me!)

I'm sure if she rings them, she'll be persuaded, but should she? Is there a better way of doing this?

Thoughts please!

Linton

For ER she really does need to buy through an independent broker who will charge commission. Possibly she could get it cheaper than 1.99%. Rather than accept an unsolicited offer perhaps she would be better off seeing someone of her own choosing. Changing ER provider may well be worth investigating as some larger household name insurance companies are getting into ER and appear to be offering good rates.

skylarking953

Thanks!

I would probably have to put phone numbers in front of her. I would basically be trying the usual mortgage advisers like L&C?