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What to expect from your initial equity release appointment

If you’re considering equity release as an option to help finance your retirement, you’ve probably already done some research.

You may have downloaded our free guide to equity release. Or perhaps you’ve found out how much you could release with our calculator.

However, the best way to find out whether equity release could be right for you is to book an appointment with a specialist equity release adviser. In fact, if you’re thinking of taking out equity release, it’s a requirement of the Financial Conduct Authority (FCA) that you receive regulated advice to make sure your interests are protected.
It’s a straightforward, friendly appointment to explain to you how equity release works and how you could decide whether it’s the right option for you.

Here’s how it works:

What do you need to prepare for the initial appointment?

Your initial appointment with your adviser is very straightforward and there’s really nothing you need to do to prepare for it. It would be great if you could have a think before you speak to your adviser about:

  • How much money you would like to potentially release from your home and what you would use it for
  • If you’re looking to pay off existing debt with the money released, how much you owe and if there are any early repayment charges
  • A rough idea of your current income
  • A list of any questions you may have so you don’t forget them on the day

Your initial appointment is to help you understand how equity release works, ask questions you may have and for your adviser to find out a little more about your circumstances to see if equity release is right for you. There’s no obligation to proceed at all.

The presentation

First of all, your adviser will take you through a presentation to give you all the information you need, such as:

  • Who Key Equity Release is and what we do, explaining the stages of the lifetime mortgage process
  • What equity release is and how it could help your retirement finances 
  • What your other options could be to raise capital
  • What the additional features of lifetime mortgages are and any costs involved in the process
Now is your chance to ask any questions you may have. If you have a family member attending the appointment, they can find out what they need to know too and ask any questions they may have.

It might be a good idea to write down anything you want to know before the appointment, so you don’t forget anything.

What happens after the appointment?

Once your adviser knows more about what you need, they’ll search the product range that we have created using 20 years’ experience and our unique insight in helping over 1 million people decide if equity release is right for them.

You’ll be invited to attend a second appointment where your equity release adviser will provide their advice and recommendation to you. You will receive a written recommendation report and personalised illustration, explaining the plan, either in the post for telephone and zoom appointments or in person if you had a face to face appointment. It’s then up to you to decide whether you’d like to go ahead or not. If you do decide you wish to proceed, your adviser will talk through the next steps and help you continue with the process.

Don’t worry if you have any questions in the meantime – your adviser will leave their details so you can contact them at any time.

Things to consider

Your specialist equity release adviser will explain:

  • You have to get advice before releasing tax-free cash from your home - please read all our information and make sure it’s right for you
  • Key Equity Release offer lifetime mortgages only, which is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • All of our plans meet the Equity Release Council standards and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value
  • All our equity release advice relates to our range of Key branded products only, and our fixed advice fee of £599 is only payable on completion
  • You should always think carefully before securing a loan against your home
Page last updated: Thursday 23 June 2022