Equity Release Supermarket Review
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- They only use local qualified advisors
- Schemes available across the whole of the market
- An online dashboard and comparison tool give full transparency
Once you have read the Equity Release Supermarket review, you can compare reviews with other providers or use the equity release calculator to see how much cash you could release from your home.
About Equity Release Supermarket
This review focuses on Equity Release Supermarket, an independent broker who works with the whole of the market.
Equity Release Supermarket was founded by Mark Gregory in 2008. Having worked in the industry for many years, Mark’s ambition was to create a service that offered impartial advice, recommended the best deals and gave customers the tools to compare the whole market.
In addition to lifetime mortgages, they provide advice and comparisons on a range of later life products including home reversion plans and retirement interest only mortgages. They have an excellent rating of 4.9 out of 5 on review site Feefo and are the winners of the 2019 equity release award for best financial adviser.
For your protection of their recommended schemes are regulated by the Financial Services Authority (FCA) and all their advisers are members of the Equity Release Council (EHC).
How do Equity Release Supermarket lifetime mortgages work?
Equity Release Supermarket provide independent advice across the whole market through their team of regional qualified advisors. Using their online ‘find an adviser’ service, you can arrange a face to face or phone appointment to talk through your requirements. The first meeting is free and there is no obligation for you to proceed.
They pride themselves on providing an open and honest service, giving you access to their online comparison service so you can compare equity release deals for yourself. In addition, their online dashboard lets you track the progress of your application 24 hours a day.
Review of additional information
One of the benefits of using Equity Release Supermarket is that you deal with a single, dedicated qualified adviser. They offer a range of later life products and will advise you on the best course of action.
As far as fees are concerned, rather than charging a percentage of the amount borrowed, they charge one fee that is guaranteed never to be more than £995. This makes their services very competitive however you will also need to factor in the usual professional fees.
The Equity Release Supermarket calculator
To see how much equity you can release, you could use the free Equity Release Supermarket calculator. The results show how much you could borrow with a lump sum, interest only and enhanced scheme, although you would need to speak to an advisor to get an exact figure.
For example, a 65 year old with property worth £250,000 could borrow between £94,250 and £124,000, depending on the type of plan you choose.
What should I do now?
To see how Equity Release Supermarket compare with other companies, take a look at our other equity release reviews.
Alternatively if you are want to see how much cash you could release, why not try our free and easy to use calculator.
A few companies like EquityReleaseSupermarket compare the whole market so you can be sure you are getting a good deal.
This is one of the reasons we have teamed up with leading specialist Age Partnership, as they compare schemes across the whole market with companies like Aviva, Legal & General, LV, Pure, Canada Life, One Family, Scottish Widows, Hodge Lifetime and Just Retirement.
And don't forget, Age Partnership guarantee to beat any like for like equity release quote or they will give you £500.