Equity release is definitely a life changing decision. By choosing to release equity that is tied up in your home, you will be affecting your life and the lives of your children. This is why it is very important for you to have all of your facts available before making the decision to proceed with an equity release application. Plenty of websites offer equity release FAQs, which you should read.
Any unanswered question that you may have regarding equity release must be answered which is why it is such an advantage that almost every equity release website has an Equity Release FAQs section.
Here you can find the answers to the most common questions that you may have regarding equity release. The fact is that you will have questions which you will need to have answered before you even decide to employ the services of an independent financial adviser. These are the basic questions which will help you to decide whether or not you should proceed with a release of equity.
On the equity release frequently asked questions section on an equity release website, you will find answers to questions such as: –
• Whether or not you are old enough to be eligible for equity release
• Whether or not there is a minimum amount that you can borrow
• What will happen if you or your partner dies
• What will happen if your current circumstances change
• Whether or not there is any authoritative body governing equity release and protecting your rights
These are all very important questions that you will want to have answered before going to an independent equity adviser. Remember, you may have to pay the adviser for his services so why pay him for information that is already readily accessible to you?
What to do if Questions are Not Answered
There may be times the equity release FAQs section is missing information that you require. This can make things more difficult as you would have to go through more websites and hope you can find the answer. Of course we already mentioned another way for you to get answers that you might not see on the website. An independent financial adviser may provide a website and the answers you need. On the other hand you might be able to just speak with the person regarding your equity release questions and get the answers. Many advisers even in the independent market are willing to answer questions you have. They do so in the hope that you will retain their services.
When Questions Contradict Each Other
What happens when you see websites with contradictory answers to equity release FAQ’s? Chances are you are wondering who to believe. This is where the article you read now can come in. You are wary of the answers you see, so you want to find websites you can definitely trust. First always check to see when the company providing the information began. This is an indication of their actual expertise. If you cannot find it make a call and simply ask. If you cannot get a hold of anyone then move on because the company is definitely not one to trust. You should always be able to get an answer even if it means they respond within 24 to 48 hours.
Additionally, go to websites you have heard of before that offer financial products and comparisons. There are plenty of these out there. For example money supermarket, equity release supermarket, and newspaper websites will talk about the different financial products. These authority sites and .gov sites can certainly be used to gain more answers to questions. They also help eliminate the contradictions you are currently worried about.
Tips for Answers
If you follow the above tips then you can certainly determine what financial products are right for you. Allow yourself to gain the answers you need.
So if you are wondering whether or not equity release is the solution to your need of having an additional source of income during your old age, find a way to get online and start visiting the equity release frequently asked questions on as many websites as possible. By the time you are finished, you will have more than sufficient information to help you to make an informed decision. There will definitely be some standard questions that you will find on all websites but there will also be questions that may be specific to certain websites. This is why you need to visit several websites to obtain sufficient information from the equity release FAQs.