Equity Release Providers

MSPierce

I am intereested in  views on Equity Release providers  So far I have been in contact with Age Partnership and LiveMore  If I understand correctly Age Partnership acts as a Broker who will charge £2000 should you go with their chosen provider but Livemore are the actual providers and as such this charge does not apply  Therefore should I look around for similar providers or go with Age Pertnership. Livemore seem to be well regarded and my preference but would like to  get some feedback before proceeding

Thanks to all

MWT

Whoever you end up getting the Equity Release product from, you will still have to pay for advice and legal costs.

LiveMore will refer you to an independent advisor, so make sure you understand their charges before you agree to proceed.

Advice fees typically range from around £500-2000 so you should be able to do better than the Age Partnership route, and that £2,000 is for the advice.

Sometimes there are products on offer that include free legals but free advice does not seem to be available these days.

MSPierce

I have just rung Livermore and they have in house advisors so the charge is zero  as they are not brokers.  It would seem therefore if I can find the  best provider it would be better than a broker but then again it may not make any difference in the final analysis Any more views:

MWT

MSPierce said:

I have just rung Livermore and they have in house advisors so the charge is zero  as they are not brokers.  It would seem therefore if I can find the  best provider it would be better than a broker but then again it may not make any difference in the final analysis Any more views:

It is good that they are offering free advice, that is rare these days, but it comes at the price of not considering the whole of the market, so be very sure you know exactly which product features you need and as much as possible compare the details of those features and the interest rates with products from other lenders.

I certainly wouldn't pay £2,000 for advice, but do make sure you are not missing out on a better deal overall by not looking at the wider market...