It doesn't always pay to cut out the middleman!

Nicholas Mills, a specialist financial adviser, and Key’s Regional Manager for the North East, reports on why it pays to seek the right advice.

Open up the financial pages of your regular newspaper, or search online for equity release and you are faced with companies competing for your attention. Norwich Union and Prudential are well-established names in many sectors of financial services, including equity release, but there’s one thing they can’t offer you, and that’s wholly independent advice.

Whilst it’s true that advisers from the majority of companies will take the time to find out about you and your requirements, certain companies can only recommend plans from a limited range of options. This means you might not be getting the whole story, or the best deal.

This is when it pays to consult the middleman, but only if they’re independent and know what they’re talking about! Key Retirement Solutions is an equity release specialist. We know the market inside out, and we were one of the big names fighting for regulation of all equity release plans. Everyone is entitled to receive full and unbiased advice, and that is what we always offer.

If you’re still not convinced, consider this example. Mr Jones, a 70 year old gentleman consults Key for advice on releasing £50,000 from his home. We find out more about his situation then compare all the available plans. Comparing the highest and lowest rates on these plans could save Mr Jones and his beneficiaries over £41,000 in interest over the next 15 years!

Independent advice can save over £40,000

Another important thing to remember is that many lenders cannot accept direct applications. And even if they did, there are often preferential rates if you go through an independent adviser. Let’s take another example. Mrs Smith wants to release £50,000 with a Norwich Union lifetime mortgage. She could save herself and her beneficiaries over £15,000 over the next 15 years, by taking the plan through Key, rather than directly with the provider!

To find out how much Key ould save on your equity release plan, simply reserve a free, no obligation initial consultation with one of our specialist advisers. Call free on 0800 915 9116 or we’ll call you back.

If you are considering equity release, please read the points to consider.