Equity Release Central

If you are considering an Equity Release plan then you'll need to find out how much your property is worth and the impact of any mortgage or loans that you have secured against your home.

Most plan providers will accept properties where a small loan is outstanding, providing that part of the money advanced is used to pay off the loan.

You can find out quickly and informally how much your property is worth by typing your postcode into web sites such as:

Our Property - free guide to how much properties sold for in your area.

RightMove.co.uk - extensive multiple estate agent web site.

UpYourStreet - tells you about your local area.

Plan providers will want to carry out a formal valuation of their own. They are advancing money to you and so need to be sure of the property’s value. Some providers can be quite choosy about the types of properties and geographic areas that they will accept for Equity Release plans.

Use ERC Comparative Tables for Lifetime Mortgage and Home Reversion plans to quickly find out which plan providers will accept your property and area.

The plan provider will usually arrange for an independent valuer to look at your property. Plan providers often ask you to pay for this valuation and then refund the cost once the plan is taken out.

To protect both yourself and the Plan Provider, it is your responsibility to keep the property fully insured in respect of its rebuild cost. If certain faults are found with the building during the valuation, then these will have to be repaired before any money can be released to you.

If you are uncertain of your property price try looking at

Our Property - free guide to how much properties sold for in your area.
RightMove.co.uk - extensive multiple estate agent web site.
UpYourStreet - tells you about your local area.

The next step to consider is Legal Stuff.

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