Mortgages Made Easier
Who is Involved in The Process?
Provider
These are companies who develop equity release plans for the marketplace, and entire into agreements with homeowners. They process and underwrite your applications, and it’s their internal criteria you have to meet before they issue the funds to your solicitor.
Administrators
These are usually, but not always appointed by the provider of your plan, and they are responsible for notifying you of any required changes to payment, processing further releases of equity and issuing annual financial statements.
Advisors
Equity release is a regulated product that is only available on an advised basis. A specific qualification is required so that you are given sound advice for your specific set of circumstances and draw up an individual recommendation based on those.
Arrangers
This is the party that initiates the process with the homeowner, and brokers the deal between themselves and the providers, and oversees the process. This in either an Independent Financial Adviser (IFA), or a Mortgage Broker such as Mortgage Lolly.
Mortgages Made Easier
What Will Equity Release Do For You?
64%
Home Improvements
33%
Holidays
31%
Pay off debts
27%
Family Gifts
22%
Clear Outstanding Mortgage
12%
Help With Bills
Lifetime Mortgage - 55 and Over
Home Reversion Plan
With a lifetime mortgage – the homeowner usually takes out a loan that will ‘roll-up’ with compound interest at the end of term.
In a home reversion plan – the provider, buys a proportion or all of the property.
there are other customised products available, allowing borrowers to switch from an interest only to a roll up basis during the mortgage term – contact us to find out more
Warren is an excellent mortgage advisor who is determined to get you the best deal. Very professional and knowledgeable person. As a first time buyer I’ve really appreciated Warren’s explanations of the process and I’ve felt supported throughout. 5 stars!
Joanna Gniazdowska
Great communication with clear advice and support from Warren regarding my mortgage application. I would highly recommend his service.
Alexander Manson
Warren was great to work with. He was clear and thorough at all points in my mortgage application process, and contributed to the success of my property purchase.
