The SunLife Equity Release Service options
The SunLife Equity release service works in a slightly different way to the other equity release providers we have reviewed. Instead of offering a lifetime mortgage or equity release product that is specific to SunLife, they use the services of Age Partnership, equity release specialists who work with the whole of the market.
This means that when you use SunLife’s equity release services, you have access to exclusive products, preferential rates and competitive application fees available through their partnership with Age Partnership.
Incidentally Age Partnership is also the company we selected to offer Equity Release services, so if you want to know more about them, just read our Age Partnership Equity Release Review or click here to use their equity release calculator.
Are you eligible for the SunLife Equity Release Scheme?
Choosing equity release is an important decision, one that will affect your family’s inheritance, so it is important to talk to them first.
When you use the SunLife equity release service, you will speak to a qualified and experienced advisor at independent broker Age Partnership, who will talk through your requirements and provide a full written no obligation recommendation.
Whether you are eligible for SunLife Equity Release through Age Partnership is based on the whole of the equity release market, so will vary from provider to provider. Therefore eligibility and the amount you can borrow will depend of your current situation and the equity release schemes available to you. Having said that, as a minimum SunLife state that customers must be:
- Aged 55 or over
- Living in the UK most of the time
- Home owners with no mortgage or a relatively small mortgage remaining (this must be paid off with any money released)
- Owners of property worth at least £70,000
In addition the SunLife Equity Release Guide states that the property should be built form bricks and mortar and that you must own either a freehold property or one with a long lease.
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