The Search for Your Lifetime Mortgage Advisor Starts Right Here…
Lifetime mortgages are financial arrangements which allow home owners to release the equity tied up in their property without the inconvenience of moving home. They provide a cash lump sum or an income and will provide you the right to continue living in your home for the remainder of your lifetime. Many people have experienced frustration in finding a specialist advisor. However, with the developments in modern technology, it has never been easier. There are a number of simple ways to find a qualified and experienced advisor, who can assist you in finding the best possible lifetime mortgage deal to suit your circumstances.
Finding a Specialist in Equity Release Advice
There are four top tips which can help you to find a great specialist in equity release advice:
1) Seek out client recommendations: There are a great number of online sites or forums which show impartial advice on many financial issues and services. It is worth doing a little research on your potential broker to feel confident that they offer a good service. Unbiased.co.uk is a specialised site which was created to provide detailed online specialist information
2) Ask family and friends for referrals: This can provide the highest level of confidence in your specialist advisor. Ask any family or friends who may have experience in using a specialist advisor service, if they could supply a referral. They are likely to provide an honest opinion about the level of care they received, standard of advice and overall satisfaction. Many people are happy to share the details of professionals who have served them well.
3) Conduct some online research: There are a number of resources online which supply information to aid you in securing a qualified equity release advisor. A little time spent researching on the internet can provide a wealth of options for qualified equity release advice. These include any FCA authorised website, unbiased.co.uk or even yell.com.
4) Check the Equity Release Council website: This is a trade body which was established to protect consumers within the equity release industry. They have a detailed site which offers consumer advice. However, they also provide a list of qualified advisors locally and nationwide.
Some Considerations Before Choosing a Lifetime Mortgage Advisor
When choosing a lifetime mortgage adviser, you will have a great number of options. However, in order to determine whether they are the best choice for you, you should follow these tips:
- Check whether they are an independent advisor? Independent advisors differ from others as they are not restricted to a particular company or specific product ranges. This means that they can facilitate access to a more diverse range of financial products, which can offer a better potential for finding the scheme best suited to your circumstances.
- Check the extent of their qualifications? In order to legally provide equity release advice, brokers or advisors must have the proper qualifications. Not all brokers have the accreditation to advise on these types of scheme. Reputable, professional advisors will prominently display their certification on their letterheads, business cards and advertisements, but it is best to clarify their qualification before you begin.
- Confirm their experience within this specialised industry? Although some brokers may have the relevant accreditation to advise within the equity release industry, they might not have any actual experience with lifetime mortgages. Experienced advisors will be able to assess the advantages and disadvantages to ensure that you make the decision which is best suited to your personal circumstances.
As with any financial product, it is important that you fully understand the charges which may be applicable and any limitations or restrictions which apply. Securing a qualified and experienced advisor can be the key to finding the best possible deal. If you are unsure about any aspect of lifetime mortgages, confirm the details with your equity release advice specialist before finalising your application.