How Safe is Equity Release?
Many people ask if equity release is safe and are worried that they will lose their home as a result of taking out an equity release plan. You WILL NOT lose your home as long as you take out an equity release plan endrosed by SHIP as their guarantee means you will retain the right to remain in your property for life providing it remains your main residence. Bower Retirement Services is regulated by the Financial Services Authority (FSA), and only recommends equity release products endorsed by Safe Home Income Plans (SHIP).
Equity release has become safer since its regulation by the FSA. Healthy competition in the market place has also meant products are more flexible than they were a few years ago meaning more choices and better rates for homeowners. However, taking specialist advice is crucial to ensure you receive the best product on the market tailored to your circumstances.
