How Do I Apply?
When applying for Equity Release with Equity Release Guru really is actually a lot simpler and easier than you would think.
Our Advisers provide you with independent expert advice and as we have access to the whole of the market all lenders are accessible. We will guide you through the entire process in a clear concise manner and ensure a full understanding of the process and explanation of the application.
If you are eligible and the amount that you are entitled to release is influenced by several factors including your age, property and your health.
Prior to taking out equity release, it is always important to carry out research on all of the options and plans available to you to suit your individual needs. It is also highly recommended that you discuss your plans for equity release with anyone that may be impacted in the future, especially family members.
To confirm that there are no fees to pay until you have an offer approved by the lender and that you have received the transfer of your funds.
We have broken down the application process in 5 simple steps below:
Getting In Touch & Fact Find
The initial stage is you getting in touch with us.
After our prior discussion to see if equity release is for you, caters for your individual needs we will move onto the first step Fact find.
The first step is called our Fact Find and will establish the basic details of your requirements and circumstances to ensure that we understand your needs and have the information that equity release providers will require. This is a FREE service and will take about one hour with one of our experienced and friendly Advisors, this aspect of the process is usually conducted by telephone.
Once we have completed your Fact Find we explore the whole of the market to discover the right equity release plan to match your needs.
We will compare various available options to you and then supply you with a recommendation of an appropriate plan. We will discuss our proposal with you and agree on a plan before we send it to you in writing. There are always opportunities for you to ask as many questions as you wish, and our Advisors are always happy to help!
Application Submission and Arranging A Home Valuation
We guide you through the lender application process once you are happy with the plan we have recommended. We will arrange with the lender to have your property valued, and following this, the lender will make their decision whether they approve your application.
Upon Successful Approval Of Application
Upon successful approval of your application, we will get an offer from the lender for you, confirming the amount of money you can borrow. Both you and your solicitor will receive a copy of the offer and they will put together all the necessary paperwork for completion
The Transfer Of Your funds
When your deal has completed, the funds will be paid to you via your solicitor. They will also arrange to repay it directly and send you any remaining sum if there was an existing mortgage.
Our fee is only payable on completion and this is usually handled by your solicitor, otherwise, you can pay us directly.
Equity Release Guru is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register \(http://www.fsa.gov.uk/register/home.do) under reference 610205.
In using this website I give express consent to Equity Release Guru to call me on the number provided from time to time. Calls may be recorded for training and quality purposes.
This is a Lifetime mortgage which may reduce the value of your estate and may affect your entitlement to state benefits. To understand the features and risks ask for a Personalised illustration.
Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind. Inheritance Tax planning is not regulated by the FCA. Think carefully before securing other debts against your home. By consolidating your debts into a mortgage you may be required to pay more over the entire term than you would with your existing debt.
Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. Our adviser will talk through the setting up costs of a lifetime mortgage before you make any decision to proceed.