Equity release

[rubysboy]

My wife & I are both over 70. We are considering Equity Release. Several firms have contacted us with offers.Which company is currently offering the best deal.

[Androcles]

I should be very careful about these as there as some deals which are not brilliant about. You need to be very careful if house prices are falling, you could find yourself in a situation you don't expect, so understanding the contract they offer and also testing out a few what if scenarios and seeing what your situation would be if they were to happen is vital.

I would strongly suggest you talk to an independent financial adviser as well as a solicitor before you agree to anything. The adverts look brilliant but there are many things of which to be careful - see http://news.bbc.co.uk/1/hi/business/3129729.st m and also read :
http://www.manchesteronline.co.uk/personalfina nce/s/160/160506_equity_release_probe_urged.ht ml

Hope this helps........

[BRORA]

is there any new advice on going ahead with equity release - the answers on this subject all seem to be 2 or 3 years old. is there anyone who has done this and is satisfied they have done the right thing