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Keep up to date with the latest equity release news including updates on new products, rate changes and any special offers we can pass on from time to time.

Is equity release safe?

We appreciate that taking out an equity release plan is a big step. After all, our home is our sanctuary, our haven of safety, and, for many, our biggest asset.

That’s why our patient and experienced advisers provide quality advice from the whole of the market, with no pressure. If we don’t think an equity release plan is right for you, we will say so. It’s that simple.

As quality advice is central to Equity Release Supermarket, you can be certain that you won’t be forced into making any decisions that aren’t right for you or your family.

Let’s explore some of these safeguards.

Equity Release is regulated by the Financial Conduct Authority (FCA)

The FCA, the financial services watchdog and regulator in the UK, oversees the equity release market.

In the equity release market, this means that all lenders, brokers and advisers must have the permission (authorisation) of the FCA to lend and/or give financial advice. They must also follow the FCA’s strict codes of conduct. In addition, being regulated by the FCA means that consumers have adequate and appropriate protections in place.

The Equity Release Council

    The Equity Release Council is the industry’s governing body and, as such, it insists that its members follow a strict code of conduct which is designed to protect consumers. These safeguards include:
  • You must receive financial and legal advice.
  • That all products must have a ‘no negative equity guarantee’ – which means that your loved ones will never repay more than the value of your home.
  • That you can stay in your home for life.
  • That all those taking out equity release have at least one face-to-face meeting with an independent solicitor.

So, if you are considering equity release, make sure that your lender or broker is a member of the Equity Release Council; which Equity Release Supermarket has been for many years.

You must receive financial advice

Equity release is an advised financial product, which simply means that you cannot take out a plan without having taken appropriate financial advice from a suitably qualified professional.

Advisers must have taken special qualifications to become equity release advisers and if you are unsure if your adviser is one of them, the Equity Release Council has a member’s directory on its website where you can check.

Rest assured that all the Equity Release Supermarket’s advisers are listed as qualified members of the Equity Release Council.

Your solicitor is involved

As mentioned above, you must see an independent solicitor at least once during the equity release process.

While they cannot give you financial advice, your solicitor will ensure that all your paperwork is in order and aim to ensure that the process runs smoothly and there for your protection.

The flexibility of equity release

Equity release offers safeguards that traditional mortgages don’t. Most plans don’t require repayments and, as such, you cannot get into arrears, default or have your home repossessed for non-payment.

    As the market evolves, many of the latest products offer greater flexibility and choice, such as:
  • Plans with fixed interest rates for life, meaning you'll always know how much you must repay in the future.
  • Fixed early repayment charges, knowing exactly what the penalty may be, if you wish to repay your plan early.
  • Plans allowing you to make ad-hoc voluntary payments which could help to manage the future balance.
  • Compassionate early repayment charge, allowing penalty-free repayment of a plan within three years of a partner dying or moving into long-term care.
  • Downsizing protection features ensure you can repay your equity release scheme penalty free if you move home after 5 years from inception of the plan.

What are the pitfalls of equity release?

While equity release has helped many people to enjoy financial freedom, there are downsides which you should be aware of.

Equity release will reduce your estate to pass onto your loved ones as an inheritance, but this can be minimised in different ways.

With so many plans and options available, it’s vital that you speak to an impartial, expert adviser, who will search the whole of the market to find the plan that meets your individual needs. Get in touch with Equity Release Supermarket today and we can do just that.

Download our factsheet to find out more about the ways that you are protected.

What our happy customers have to say about our advisers

To Stephen A huge thank you for all your help over the past few months. Not knowing that much about equity release you made... READ MORE
J&S Hill - Norwich
Very happy with the presentation and advice by our adviser - Gary Webster. He was business like, polite and happy to meet... READ MORE
Mr & Mrs P - Romford, Essex
Brian was helpful all the way through the process. He replied to our queries quickly and efficiently.
Mr P - Porthcawl, Bridgend
Anthony Robinson at Equity Release Supermarket was superb. A lovely friendly, genial man with a very comprehensive knowledge... READ MORE
Ms J - Brighouse, West Yorkshire
Hannah Boxshall was excellent. She took us through everything, was never pushy and was an absolute delight to deal with. An... READ MORE
Mr & Mrs B - Tadley, Hampshire
Steve Sykes was very professional about giving us advice in a way we understood, patiently and step-by-step.
Mr O - Lound, Suffolk
Extremely satisfied. Darren King was most helpful & always on time when visiting me. All went smoothly & quickly.
Mr F - Burntwood, Staffordshire
Everyone we dealt with were friendly and we were not put under any pressure at any time. Highly recommended.
Mr R - Bicester, Oxfordshire
Will Massey was professional, helpful and immediately answered any queries I had.
Mrs I - Northampton
I want to say thanks for the excellent service I received, Jo gave me help and advice with a smile.
Mrs F - Camberley, Surrey
David took his time going through the different scenarios that were open to my situation. Very professional and quick.
Ms Y - Haddington, East Lothian
I cannot praise Simon enough. He was brilliant all the way through the process, answering our questions, keeping us upto... READ MORE
Mr P - Llansantffraid, Powys
The website was easy to use. Adviser was knowledgeable and efficient.
Mrs Y - Dawlish, Devon
The financial adviser was proactive throughout the process, even when on holiday.
Mr B - Shrewsbury, Shropshire
A seamless process achieved with thoroughness and diligence.
Mr E & Mr L - Malton, North Yorkshire
Ron was brilliant & personable. We were given all information & alternatives & allowed to make our own unpressurised decision.... READ MORE
Mr G - Wigston, Leicestershire
This is my 2nd equity release programme & so I was basically familiar with the procedure. UYour adviser Andrew Ross was excellent... READ MORE
Mr R - Plymouth, Devon
All the people with have dealt with were professional and explained everything clearly.
Mr & Mrs S - Bedford, Bedfordshire
Marc Cookson was very knowledgeable & provided us with excellent service. He was a delight to deal with. My comments are... READ MORE
Mr B - Chesterfield, Derbyshire
Despite the limitations imposed by Coronovirus, I was extremely pleased by the highly professional approach adopted by all.... READ MORE
Mr W - Knebworth, Hertfordshire
From start to finish the service we received was excellent. Nigel was a delight to deal with & the helpdesk kept a watchful... READ MORE
Mrs M - Blyth, Northumberland
Alice Gardner was knowledgeable, utterly professional and patient. I was not rushed at any time. We went at my pace and she... READ MORE
Mrs M - Lowestoft, Suffolk
Mr Coyne explained everything in detail to us. He was just a phone call away if we needed to confirm any details. Excellent... READ MORE
Mr H - Bolton, Lancashire
This could not have been easier. A pleasure to deal with & not overbearing unlike competitors who bombarded me! This is the... READ MORE
Mr & Mrs L - Hull, Humberside
James Jarrold explained the process in a friendly & easy to understand manner. He always answered his phone when I needed... READ MORE
Mrs N - Runcorn, Cheshire
I am very happy with the service provided by Equity Release Supermarket. Many thanks to Sue for all the work she did to find... READ MORE
Mr P - Failsworth, Manchester
Excellent communication, fast reply and very polite which makes a nice change. Ellis was extremely knowledgeable about the... READ MORE
Mr F - Carlisle
Brian my adviser was very clear, helpful & understanding of my position with a partner living in my house. I would recommend... READ MORE
Mrs R - Melksham, Wiltshire
Once again, may I thank you for all your help in sorting out the Equity Release - it was a very professional service that... READ MORE
Mr T - Croydon, Surrey
Mike the adviser was very good, never putting us under pressure & making us aware of all options available to us. The whole... READ MORE
Mr R - Gillingham, Kent
Barry Wilderoder is a star performer! He was thoroughly supporting. A very pleasant, experienced person to meet & deal with.... READ MORE
Mr & Mrs N - Leiston, Suffolk
Phil Totty was so helpful & put us at ease straight away. The whole process was really quick, v easy, friendly & efficient.... READ MORE
Mr S - Spilsby, Lincolnshire
Jennie was very helpful & pleasant in explaining & dealing with our application & in advising on our specific needs.
Mr & Mrs M - Llandudno, North Wales
From first finding Equity Release Supermarket on Google & Mr Filewood contacting us we have been exteremely happy with the... READ MORE
Mr & Mrs J - Scarborough, North Yorkshire
Every step was fully & carefully explained. All questions were promptly & accurately answered. Our adviser Glen was knowledgeable... READ MORE
Mr D - Northmoor, Oxfordshire
Jane Dickinson was very clear, concise & helpful. We had done some research ourselves & found this backed up all her advice... READ MORE
Mr & Mrs S - Baguley, Manchester
The service was dealt with professionally and efficiently despite Covid-19 conditions!
Mrs P - Hove, East Sussex
Derek Wren was professional and gave sound good advice without any pressure or hassle.
Mr & Mrs G - Godalming, Surrey,
Everything went through far more quickly than I anticipated, and with a lot less hassle than I had expected too! Everyone... READ MORE
Mr H - County Durham
Quick service - explanation excellent. Professional - Honest.
Mrs B - Canterbury, Kent
Anyone thinking of using equity release from their home, I could not recommend ERSupermarket highly enough. From the initial... READ MORE
Mr & Mrs P - London