We’ve got access to a new equity release lender

Our new lender

At 55Plus Equity Release, we pride ourselves in being experts in the equity release sector. Our advisers specialise in equity release, meaning they’re always up to date with the latest developments in the industry. This means that they are able to find the right plan for you, depending on your personal circumstances and the reasons behind you releasing equity.

One of the ways we can ensure that our customers are always being given the right equity release products that work for their individual needs is by recommending plans from a variety of different lenders. We’re not ones to get complacent, however, and we’re always looking to broaden the lenders we can access to be able to offer even more choice.

That’s why we’re thrilled to announce that we’re now able to access a new lender: Standard Life. Like all lenders, Standard Life’s products meet strict industry standards, such as having a no-negative equity guarantee. This means that you’ll never owe the lender more than your property is worth. As well as these requirements, their products can also include features that other lenders might not have, depending on your circumstances. The best way to understand which plans will work for you is by working with an adviser who specialises in equity release.

What product is right for me?

Standard Life is just one of the many lenders we work with. To understand which product will be right for you and your household, we will consider:

• Why are you releasing equity? Equity release customers are able to choose how they receive their money, be that in one lump-sum or multiple instalments. Different lenders will offer different options.
• How much flexibility do you require? Some plans are more flexible than others, such as offering you the option to start or stop making interest repayments if you want to keep the amount you owe the lender down. If flexibility is important to you, we will consider this when choosing a product.
• What type of property do you own? You can release equity from a variety of different properties, but some lenders are more specific than others. If you own a property with a large garden, for example, you may still be able to release equity, but this may narrow down the lenders and plans available to you.
• How much equity do you want to release? If you know the exact amount you want to release —great! But if you’re unsure, a drawdown lifetime mortgage will enable you to access further money (within a specified limit) at a later date, should you need it.

The importance of working with an adviser

With all of these factors to be taken into account, it’s important to work with a specialist who can offer you individual advice based on your personal circumstances.

Our founder and Managing Director, Jan Johnson, said: ​“I’m absolutely thrilled to be able to offer our customers products from Standard Life. As a reputable lender with a wide range of equity release plans, this lets us provide our customers with an even greater choice than ever before.

“It’s important to us that our customers can choose from a diverse range of lenders. Unfortunately, some people are turning to price comparison sites, which often don’t have access to as many lenders as we do, and also cannot assess the range of different lifestyle variables needed when it comes to choosing the right product. By working with one of our specialist equity release advisers, we can help our customers make sense of the industry and make an informed decision that works for them and their family.’

If you want to learn more about equity release and whether it might be right for you, then please get in touch.