It’s great to keep everyone involved
Are your family members wondering what Equity Release is? Are they worried you might be throwing away all your resources or being targeted by unscrupulous advisers?
If you’re looking into Equity Release, your family might wonder if you’re getting the right advice and a good deal.
It’s a good idea to let your family know what you are planning, so they can understand your reasons and learn more about what Equity Release entails. They might be worried at first, but they are probably genuinely concerned that you’ll be comfortable and secure in the future.
We’re happy to say that the industry has evolved in recent years to become far more client-friendly. Here are the key points your family should bear in mind.
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You will have good reasons for using Equity Release
Are your family members fully aware of your situation? Are you in any financial difficulty, or constantly frustrated by limits on what you can do due to money?
For the many people who apply for Equity Release, it can literally be a life changer. They might have problems with getting around, or doing even the simplest of tasks in the house. Their home might be in need of urgent repairs and improvements, or their existing debts could be spiralling out of control.
If you need things to improve your life, like a stairlift, mobility items, new windows, doors and appliances, but have no other options to pay for them, then Equity Release could be the best solution. Or perhaps you’re tired of constantly having to watch your spending while living on a small income. If your house is now worth much more than you ever imagined, then why not benefit?
Once your family understand that you need to make changes to your life for more comfort and self-esteem, they are sure to be supportive.
Your estate will not be swallowed up
Have you seen stories of people whose Equity Release deal meant the final amount due to the lender was more than the value of the house? We’re happy to say the industry has changed, and Equity Release Council guidelines mean that we will never recommend a scheme that doesn’t have a ‘no negative equity’ clause.
We always look for Equity Release plans which are fair to everyone. There are schemes available that will take care of your needs in later life while allowing you to ring-fence an amount to leave to the ones you love. Your adviser will explain how this works in detail.
Equity Release advisers want to help
Are your family worried about pushy sales tactics or someone trying to hide facts from you? Unlike how it was in the past, we know today that nobody is won over by a hard sell or persuasive language.
At Premier, our advisers priority is to put the client first. We always listen to what you want and will try to find the ideal scheme for you, and if Equity Release is actually not the right thing to do in your situation, then we will tell you.
Your family are welcome to sit in on our conversations to see for themselves how we approach Equity Release and work with you to find the best solution. We promise to answer any queries they might have and put their mind at ease about any aspect of Equity Release.
Equity Release is a big decision
Does your family feel like you are rushing into Equity Release? They may not realise how long you have been thinking about it, and putting up with a poor situation in the meantime. Getting Equity Release on your house is not a decision that you take lightly, and by doing research and talking to one of our advisers you are making sure that you will be well-informed of all the pros and cons.
With your family involved in your discussions, nobody will feel like they are being left out, or that people have got anything to hide. Who knows, now they know more about Equity Release and your situation, they might even have other suggestions about how they could help you.
Looking into Equity Release is about securing your future comfort and wellbeing, and as advisers we are here to equip you to take the big decisions.
Do you want to know more about Equity Release?
Feel free to drop us a line via the Contact page or call us for a chat about your needs. It’ll cost you nothing to find out.