Equity release is a life-changing financial decision which is important as buying your dream house. Here, you cannot blindly trust any referrals shared by your friends and family members. You should consider factors and questions before working with the equity advisers.
Your equity release adviser is the one who will help you in making important and informed financial decisions. He/she will also provide recommendations and suggestions to help you achieve your financial goals. Ultimately, your objective should be looking for a well-reputed, trustworthy, and knowledgeable equity release adviser.
So without further ado, below are the crucial questions you should ask your advisers.
Are you An Official Representative Of Equity Release Council?
An official equity release adviser of Equity Release Council will follow various protocols and guidelines before working with you. This is a mandatory step implemented by the Equity Release Council, and both the customer and every adviser have to follow it. Any official representative of the Equity Release Council will hold relevant certifications and years of experience under the belt.
Are You Independent Or Not?
Usually, two different kinds of equity release advisers are non-tied and tied, highly recommended. The non-tied advisers are highly recommended because they can access all the financial products and even save your money. On the other hand, tied advisers only have specific financial products and services under the belt.
Please Tell Me About Your Qualifications?
Generally, there are a couple of ways to become an advisor and join the money market. In our opinion, only consider the adviser who is incorporated with the Equity Release Council officially. Equity Release Council accepts advisers who are skilled, well-reputed, and experienced.
Can You Please Share Your Recent Feedbacks?
Believe it or not, the ideal way to check your preferred adviser’s credibility is demanding for genuine feedback and customer reviews. In our opinion, ask the adviser to share feedback instead of stalking the social media profiles and official website.
Do You Have Every Kind Of Equity Release Product?
Commonly, you’ll find two different kinds of equity release plans that include a thorough consultation and how it works. Home Reversion Plans and Lifetime mortgages are the common equity release plans. Hence, select an adviser that offers almost every equity release product.
By considering and asking the questions mentioned above, you’ll meet the best equity release advisers. Relying on someone’s referrals isn’t the best choice. Ask the questions mentioned above before hiring an equity release adviser.