Equity release can be a great way to unlock cash from your home later in life—but it’s a big decision, and it’s essential you get the right advice.
Before committing to a plan, it’s worth knowing exactly what to ask your equity release adviser. Asking the right questions ensures you understand all your options, avoid hidden surprises, and choose the most suitable plan for your needs.
Here’s a helpful list of key questions to ask during your equity release consultation.
The very first question to ask is whether the adviser is authorised and regulated by the Financial Conduct Authority (FCA). This guarantees you’re receiving advice that’s legally bound to be fair and in your best interest.
Also ask whether they are independent or tied to certain lenders. Independent advisers can offer a wider range of products from across the market, which could mean better rates and more flexible features.
The Equity Release Council (ERC) sets high standards for safety and transparency in the industry. If your adviser is a member, they are committed to protecting your rights as a customer—such as the no-negative-equity guarantee and the right to stay in your home for life.
Ask your adviser to explain the different types of plans available, such as:
Understanding the pros and cons of each option will help you choose the plan that best matches your goals and lifestyle.
While this will depend on your age, property value, and health, your adviser should be able to give you a clear estimate. Ask for a detailed breakdown of how much you can borrow and what impact it could have on your estate and inheritance.
Don’t forget to ask about fees, interest rates, and any early repayment charges that may apply.
Equity release can reduce the value of your estate, so it’s important to ask your adviser how much your beneficiaries are likely to receive. If leaving an inheritance is a priority for you, ask about plans that allow you to protect a portion of your property’s value for your loved ones.
Many modern equity release plans now offer flexible features, including the ability to:
If you’re concerned about the interest building up over time, these options could make a big difference.
Some equity release plans come with portability, which means you can transfer the loan to a new property if you decide to downsize or move later on.
Ask your adviser whether your plan would still apply if you move, and what the criteria are for the new property to be accepted by the lender.
A good adviser won’t just try to sell you a plan—they’ll explore other options with you too. These might include:
Equity release should never be your only option—it should be the right option for your situation.
Your adviser should provide a full breakdown of:
Transparency is key. Make sure you understand exactly what you’re paying for, both upfront and in the long term.
Releasing equity can affect your eligibility for means-tested state benefits like Pension Credit or Council Tax Reduction. Your adviser should look at this as part of their recommendation and explain any impact clearly.
This is your money, your home, and your future—so it’s okay to ask questions more than once or request simpler explanations. A good adviser will be happy to go at your pace and ensure you’re completely comfortable before moving forward.
Asking the right questions will help you feel confident and in control when exploring equity release. A quality adviser won’t rush you—they’ll take the time to make sure it’s a safe, well-informed decision that works for your future.
Want to get started? Use our equity release calculator for an instant estimate, or book a free consultation with a trusted, FCA-regulated adviser.