The most common research feature that customers consider with regards to equity release schemes is the interest rate.
Over the past 12-18 months with increasing competitiveness in the equity release market, interest rates have reduced significantly & are now lower than 6%.
However, today Equity Release Supermarket have secured funds with one of the leading equity release companies to secure a fixed rate deal for its customers that is just 5.48% (5.6% APR).
The equity release provider is Just Retirement.
This is the first deal of its kind below 5.5%, whereby an equity release company can offer a single priced product for anyone between the ages of 60-75. This limited tranche of funds is available on a drawdown basis, with a minimum initial withdrawal of £20,000.
Just Retirement have been in the equity release market for 7 years now & provide a drawdown lifetime mortgage plan which enables an overall cash reserve facility from which you can take withdrawals as & when they are required. This flexibility means that you are only charged on the monies actually withdrawn, not on any funds left in the reserve facility.
The minimum withdrawal from the cash reserve is just £2000 & once the equity release plan has been set up, there are NO further charges for withdrawals. Properties situated in England, Wales & Scotland are eligible with a minimum property value of £70,000.
Additional perks of this limited offer is a FREE valuation & £500 cashback payable on completion. Therefore, there are no upfront fees to submit this Just Retirement application through Equity Release Supermarket.
To request a Just Retirement quote on the new 5.48% interest rate please click here or call one of the Equity Release Supermarket team on Freephone 0800 678 5159.
As stated these are limited available funds at this rate so please do not hesitate in contacting us.