In this brief blog, we are going to discuss the right equity release.

What is equity release?

Equity release is the process of releasing the equity in your home. This means the part of the property you own. You can only do this if you are over 55 years of age. You will be able to get a lump-sum payment or you can take out little amounts as you wish or you can do a combination of both.

With equity release you don’t have to sell your property or move homes. It is targeted at older people who own a large or significant portion of their home and need access to funds or a regular income. You will not have to give the money back to the equity release mortgage lender but rather they will recover it by selling your home upon your death.

The right equity release

The right equity release is a UK equity release company which provides equity release advice as well as other services. They are currently ranked 4 out of 5 possible stars on their review profile but with a relatively low 6 reviews. You can see their review profile here.

The right equity release has a trust pilot profile which at the time of writing has 168 reviews and a 4 star out of 5 possible stars. You can see their Trustpilot profile here.

The right equity release is regulated by the financial conduct authority and you can find details of this on the FCA register.

On their about us page the right equity release mention a few things which make them stand out, they are:

“Friendly, professional service focused on getting you the best outcome

Clear, honest and articulate communication at every stage

Independence and experience guaranteed

Authorised and regulated by the Financial Conduct Authority (FCA)

Free, no-obligation home visits

No up-front fees (you only pay upon completion)

On-going support from your personal Equity Release Adviser

Nationwide team of Equity Release specialists   “

They usually charge about 1.5% of your total plan or £1295 (whichever is greater).

The right equity release may still be able to help you if any of the below applies to you:

“  Adverse credit

Retired on benefits

Retired asset rich cash poor

Employed

Self employed

No proof of income

No banks statement

House purchase

Debt clearance “

Some of the providers the right equity release works with include:

Canada life

LV

Legal and general

Aviva

Pure retirement

More 2 life

Just

Bridge water equity release

Hodge lifetime

One family

Retirement advantage

The right equity release can also help you with the below

Equity scheme review

Will writing

Funeral planning

Debt consolidation

Power of attorney

Over 50s plan

The right equity release reviews

We have compiled some of the reviews from the right equity release to give you an idea of how they have done but looking at their Trustpilot page should give you a better idea of how they perform as a company.

1 star review.

“ Bad advice given.

We had a unique remortgage and was advised to take a RIO, which meet our requirements. Unfortunately we had to terminate our continuation with this company as the advice and recommendations seemed slightly strange and antiquated. We had some credit card debt which was interest free until 2021, we were told we would have to pay the balances off, this was not an issue as we had inherited some assets. We were told by the advisor we could not sell an asset to pay off credit card debt, yes your reading this correct. Myself and others have never heard of this laughable rule. They also advised we should transfer half the credit card debt, which is interest free to our new mortgage thus, paying interest on it. This is obviously not good advice, I intend to seek further clarification from the ombudsman on this but if you do intend to use this company please be extremely careful on what they propose. We have now used another financial advisor and are using the same lender, Hodg and have not been requested to do any of the above. Steve Johnson

   “

2 star review

“  I unhappy

I unhappy, because once the deal is completed I can not contact the consultant any more.  “

3 star review

“  The cost of borrowing this way is very high

It took ages for the money to be released and there were so many people involved that a large percentage of my money went on fees. I wasn’t happy with the legal team who were allocated to me by your representative.  “

4 star review

“  Our consultant Andy Mitchell was very…

Our consultant Andy Mitchell was very professional, explained everything in as much detail as we required and a very likeable and approachable person. He got us a even better deal than discussed at the initial consultation.

We only gave 4 stars due to a hiccup getting the papers to our solicitor but one call to Andy and it was sorted so Andy would definitely score 5 stars

Overall a very good service and would definitely recommend the Company.  “

5 star review

“ Excellent service

Excellent service, clarity ,explanation, no feeling of pressure to make a choice, good outcome the best deal suitable for our needs was found. Would recommend them every time.   “

Contact the Right equity release

You can contact the right equity release with the below details.

Call them on:

0800 612 6755

Write to them at:

The Right Equity Release,

Croft House,

21D Station Road

Knowle

Solihull

B93 0HL

Email them at:

[email protected]

You can also contact them view the webform on their contact us page which is located here.

If you have dealt with the right equity release and you are not satisfied with how they have handled your case you can complain to them with the above details or subsequently you can take your case to the Financial Ombudsman if the right equity release has not given you the outcome you deserve after providing you with their final decision on your complaint or after 8 weeks of your complaint.

You can contact the financial ombudsman on the details below.

Financial Ombudsman Service, Exchange Tower, London, E14 9SR, 

telephone number 0300 123 9 123, 

website address financial ombudsman

In this brief blog, we discussed the right equity release. If you have any questions or comments please let us know.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.


John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.