To address the increasing demand for the equity release, What Mortgage has teamed up with Equity Release Supermarket to help you understand more about the product, provide you with impartial information and help you weigh up the pros and cons.
Each month equity release expert Mark Gregory, founder and CEO of Equity Release Supermarket will answer your questions.
Whether you are just dipping your toe into the equity release waters and need guidance to get you started, or have done your research and just need some clarity on a small detail, he is here to help.
What is equity release?
For anyone new to the concept, equity release is a product which enables homeowners aged 55 plus to release the equity in their homes by taking out a cash lump sum or regular income – tax free.
One of the benefits of equity release is homeowners can continue to live in their own home until they die or go into permanent care. There are typically no repayments – the money is repaid from the proceeds of your property sale.
How can Equity Release Supermarket help?
Mark launched Equity Release Supermarket in 2008 and since then it has grown to become one of the UK’s leading equity release specialists. It enables homeowners to access all the equity release deals across the market using its specialist online tools.
Its team of national independent advisers – personally selected by Mark for their knowledge, experience and expertise – offer an open, transparent and impartial service.
Mark, who is an adviser himself and has over 20 years equity release experience, said: “Equity release is growing quickly as more and more older homeowners discover how the value in their homes can help then to enjoy financial freedom.
“I founded Equity Release Supermarket 10 years ago and me and my team of expert, impartial financial advisers are here to help you – every step of the way.
“As the What Mortgage Equity Release Expert, we’d be delighted to answer any of your questions.”
In the first of our series of Q&As, which kicks off today, Mark explains more about lifetime mortgages and home reversion plans. He also debunks some equity release myths and advises a couple from South London who are struggling with basic living costs on a paltry pension pot.
If you would like to submit a question, you can email our reporter Kate Saines at kate.saines@emap.com
Alternatively, you can contact us via Twitter via @whatmortgage or through our Facebook page. Or you can write to us a What Mortgage, EMAP, 10th Floor, Southern House, Wellesley Grove, Croydon CRO 1XG.
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