Safe Home Income Plans (SHIP)

SHIP stands for Safe Home Income Plans. Launched in 1991, SHIP protects equity release customers with a strict code of conduct and set of guarantees. If you are looking for an equity release scheme, you can be reassured that a plan from a SHIP member company will safeguard your financial interests.

The SHIP Code of Conduct & Guarantee:

The SHIP code of conduct and set of guarantees have to be strictly followed by all lifetime mortgage and home reversion providers who are members of SHIP.

What this means for you:

  • You will be able to remain in your own home and that you will never be evicted because you can no longer afford to pay the rent or a mortgage, even if interest rates change, and you can remain in your home for as long as it is your main residence.
  • You will have a “no negative equity” guarantee: you will never owe more than the value of your home and no debt will be left to your estate.
  • You will be provided with a fair, simple and complete presentation of equity release information. Your obligations will be clearly set out and detail all costs involved, including set up costs, tax implications, effects of changes in house prices and your financial position if you decide to move house.
  • You have the right to move house to another suitable property without any financial penalties being incurred.
  • You have the right to choose an independent solicitor of your choice to conduct all legal work involved in taking out an equity release policy.

BOWER RETIREMENT SERVICES is dedicated to recommending only SHIP approved plans from all leading equity release providers.

Try our free equity release calculator to find out how much you could release now or book your free consultation today by calling our UK team on 0800 411 8668.

Helpful pages

You may find the following pages helpful.