Age Partnership are instead a broker.
Established in 2004, they are younger than many of the equity release providers listed.
However in that short time they have established a range of services for those over 50, including end of life legal care like lasting power of attorney and wills, through to financial aid with mortgages and pension income.
However, they are not the direct provider of equity release plans. Instead, they survey the market in search of the best deals at the time.
Often they can provide exclusive deals that reduce costs and offer better rates as they have relationships with certain providers.
In some ways they act as another step between your financial advisor and the provider, allowing you to explore a greater range of options and find plans that are closer tailored to what you require.
Age Partnership look at the whole equity release market: at all the providers, their rates, reviews, offerings, requirements and fees.
All of the plans they look at fall under the Financial Conduct Authority’s guidelines and will be members of the Equity Release Council.
This means that any plan that Age Partnership recommend will be properly regulated and will include a ‘No Negative Equity’ guarantee, preventing the amount owed from every exceeding the come of the property itself.
These providers include all of the prominent names like LV, Aviva, Hodge Lifetime, Legal & General and More2Life, as well as smaller providers like Bridgewater Equity Release and Retirement Advantage.
With many of these providers, Age Partnership have been able to use their sway to negotiate exclusive deals which would not otherwise be available when approaching these providers publicly or through a financial advisor.
These deals can include cash bonuses, free property valuations and even preferential lower rates which over time could save you a significant chunk of money from paying back your loan.
On top of these deals, they have a price beat guarantee.
This means that they will beat any like-for-like equity release quote you give them.
If they cannot, they will give you £250.
They also run a friend referral system where, once your plan has been confirmed, you can refer a friend who will get £250 off their advise fee. In this deal, they also give you £250 for bringing them another customer.
We compare plans from the leading equity release providers
Age Partnership include an equity release calculator on their website.
This is there to give you rough indication of the amount of cash that you could unlock from your home, based on your age and the value of your property.
Please note, that this is just an indication and should not be taken as the actual value of the loans available to you.
Age Partnership are one of the most highly reviewed companies in the equity release market and winners of several awards.
The website Trustpilot has their trust score sitting at 97%.
In 2017 alone, they won five different awards for their services, including: What Mortgage’s ‘Best Equity Release Advisor’ and ‘Customer Service, Highly Commended’ awards.
That said, all decisions in regards to equity release should not be taken lightly.
The interest rates accrued on equity release loans are significant.
Even a small loan will take a large chunk out of the value of your property.
If you are looking to release some of the cash tied up in your home it is strongly advised that you seek professional counsel and talk with your family about it in detail.
Age Partnership are happy to discuss your options with you both face to face and over the phone, depending on whichever is most convenient for you.
They will impartially advise you on your best course on action in releasing equity from your property once they know your own financial situation.
They will provide you with expert information on the options you have open to you depending on a number of factors, including the value of your property, the size of the loan your wish to take out, etc.
They will then give you a free written quotation for the plan you choose.
There is a no obligation guarantee on this so if you change your mind you can still do so.
Once you have filled this in, they go through the paperwork with you and send it all off.
Typically the entire process will be over in about 8 weeks.