How we work when advising on equity release schemes

At 55Plus Equity Release, we offer a two-stage service.

  1. We make sure that an equity release scheme is the right option for you.
  2. We look at the whole of the market before recommending the scheme that suits you best.

Initial over 55 equity release consultation

The initial consultation usually takes place over the phone or in your home. It lasts about 60 minutes and aims to answer all your questions about over 55 equity release schemes and the various products available. We also like to hear from other family members to answer their questions too, so make sure you invite them along. There is no fee for the initial consultation, and you are under no obligation to proceed further. However, at the end of it, you will have all the information you need to decide if equity release is right for you and which option best suits your needs. 

You decide

When you have made your decision about whether an equity release scheme is right for you – and whether you should opt for home reversion or a lifetime mortgage, and whether to take a lump sum or a regular income – contact us and ask us to look at the options available on the market. You should also inform your legal advisor – or appoint one. If you don’t know of a good legal adviser, we are happy to recommend someone from our established network of trusted professionals.

Presenting your over 55 equity release plans

We then present our recommendations, with the lender and product that we believe best suits your needs. If your initial appointment was face to face, this could be done over the phone. If not, we would visit you at home to present our recommendations in person. Either way, we answer all your questions and give you all the facts you need to decide whether or not to proceed. If you do decide to go ahead, we will help you fill in the application form.

Progressing your over 55 equity release application

We then continue to work on your behalf, progressing your over 55 equity release application for you and acting as your first point of contact if you have any problems or questions along the way. The first stage is for us to submit your application to the lenders. They will appoint a surveyor to value your property before making an official offer. The lenders then make a formal offer of a mortgage, which is processed by your own solicitor in much the same way as when you first bought your home.

Your over 55 equity release champion

We act as your champion throughout, nudging other professionals where necessary to keep the process on track. We keep you informed at all stages, so you know what is going on at all times.

Job done!

When all the paperwork is completed, the money is paid into your account. The whole process usually takes from four to six weeks from first submitting your over 55 equity release application to receiving your money.

55Plus Equity Release made the process simplicity itself, dealing, on our behalf, with providers and solicitors. Good advice, constant attention to all the details and highly professional throughout. Thanks for the great service!’

C Braithwaite, successful over 55 equity release scheme applicant, Lancashire

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