My wife & I are looking at equity release - are there any experts/advisers on here or has anyone got any advice on things to bear in mind ?

TIA. 2003 Range Rover Vogue TD6

Haven't got much information on it but the one thing that would concern me is that the interest is compound which can add up to a considerable sum.

Others will have better information for you. John
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Money Saving Expert Topic .
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Send me a pm, I m an IFA, I have a very good specialist in this area, glad to fire you his contact details.

Compounding doesn’t have to take place btw, there are deals that offer voluntary repayments. Can be a great tool for IHT planning too.

Tread carefully and listen to advice. If it sounds too good to be true, it probably is.

Ask yourself why you are doing it, there may be better ways of raising cash for example. But as said, it can be a useful tool in IHT and pension planning.

I know nothing of the technical matters surrounding this option.
My parents did this without discussion with their children.
Only told us two years later.
My father passed away shortly after us being told.
In the period from start to the point of Dad passing away, just over two years. The amount to pay back and reverse the package was 45% on top of the release amount.
So basically when the term concludes, with Mum passing there will be no value to her estate left.

It’s my view that this way of borrowing should be treated in the same way as payday loans and much more regulation applied to stop such robbery occurring.
If at all possible, avoid at all costs!

My mother explored this.

In short: the interest rate is not cheap, clearly interest is compound, assume that all equity in the secured property will ultimately be lost, but ensure the deal is limited to your property only (not the rest of your estate) and that you have the right to live there in perpetuity.

If you do not have anyone to look after on your demise, for example no family or family is already wealthy enough, then it doesn’t really matter. If you need to move into nursing home/s then it may need to be council funded if you have no equity left which may limit choice.

The market is limited, so if you have a non-standard property then you may not find an equity release lender.

I hope you find the solution to unlocking your wealth that suits you. I personally think it’s the right thing to do once you reach a time of life and perhaps you want to treat yourselves by unlocking wealth. Just read the small print. L405 P400e Autobiography (MY2020)... Silicon Silver / Espresso

The lending institutions love equity release because by the time the state realises its the next PPI scam most of the customers will be dead. Far safer. letters not necessarily in the right order