Equity Release Advice for StepChange Customers
Welcome to Equity Release Supermarket
Thank you for visiting Equity Release Supermarket. We are proud to be the equity release partner selected by StepChange Debt Charity to provide specialist advice on later life lending.
As you have arrived here from the StepChange website, this page explains what equity release is, why you have been referred to us, and how we can help you explore whether it may be suitable for your circumstances.
We understand that considering equity release is an important decision, particularly when it forms part of a wider review of your finances. Our role is to provide clear, independent, whole-of-market advice so you can decide whether equity release is suitable for your personal circumstances.
To explore your options first, you can use our smartER tool below. It is a quick and simple way to check whether you may be eligible and how much you may be able to borrow - with no credit checks required.
If you would prefer to speak to someone, call 0800 008 6047. Alternatively, complete the contact form below and one of our specialists will be in touch for a friendly, no-obligation conversation.
What is equity release?
Equity release is a way for homeowners, aged 55 or over, to access some of the value tied up in their property, while continuing to live in their home.
The most common type of equity release is a lifetime mortgage. This allows you to borrow money secured against your home, with the loan and any interest usually repaid when the property is sold - typically when the last remaining homeowner passes away or moves into long-term care.
All lifetime mortgage plans allow you to make payments if you choose to, rather than being obliged to. Some plans also let you pay the interest each month, helping you maintain or reduce the balance over time.
Depending on your circumstances, other options may also be considered, including retirement interest only mortgages (RIOs), home reversion plans and other later life lending solutions.
Why StepChange may have suggested this option
If you've spoken with StepChange about your finances, they may have explained that housing wealth can sometimes form part of a wider solution in later life.
For homeowners aged 55 and over, equity release can sometimes help to:
- replace existing debts - including mortgages, secured loans and credit cards
- improve monthly affordability - by reducing your regular outgoings
- access funds for later life - whether for lifestyle, care or improving cash flow
Important things to consider
Equity release is a significant financial decision and will not be right for everyone. It is important to understand the potential long-term implications before proceeding. It may:
- reduce the inheritance you leave behind
- affect your entitlement to means-tested benefits
- include early repayment charges if you repay early
- limit future financial options such as long term care
StepChange does not provide equity release advice. Our role at Equity Release Supermarket is to help you understand your options and whether later life lending is suitable for your circumstances.
Independent advice you can trust
Equity Release Supermarket provides whole-of-market advice, meaning we compare plans from across the entire UK equity release market to help identify a solution that suits your circumstances
All advisers are authorised and regulated by the Financial Conduct Authority (FCA), and all plans recommended meet the consumer protections set by the industry trade body – the Equity Release Council.
Speak to a specialist adviser
If you would like to discuss your options in more detail, please complete the contact form below and one of our specialist advisers will be in touch.
We will take the time to understand your circumstances, answer any questions you may have, and explain whether equity release or another later life lending option may be suitable for you.
