It helps to have a home equity release advisor you can speak with before you decide to get a loan. You know that this person knows a lot about this type of loan, and if you still feel confused, you will finally get the answers. You might find a lot of people telling you that they are experts in equity loans, and they could help clarify information for you. Before you partner with an advisor, these are the questions you need to ask.
How much do I have to pay?
You need to understand the cost of having an equity advisor helping you. Apart from the payment for the services provided by the equity release advisor, you also need to prepare for the setup costs, arrangement and legal fees.
Are you a part of a credible organisation?
You need to know if the advisor is a part of an organisation related to equity release. Only members who have enough qualifications and experience can join such a group. The good thing is that if the advisor does something wrong, you can ask for help from the said organisation.
Are you independent?
You need to know if the advisor you intend to partner with is independent. It is crucial since you want someone who will give you the right advice. The problem with some advisors is that they could sway you towards an option that does not suit you. Since they have an affiliation with the creditor, they will push you in that direction even if it is not in your best interest.
Are you always available?
Even if you already spoke with an advisor, you might still have tons of questions. You cannot finish everything in one session. You need to know that if you need the help of your advisor, the person will be there to respond to you. If the advisor works with an agency, you need to have at least someone else to answer your concerns.
What is the possible downside of equity release?
If you want a qualified advisor, you need to hear the truth. Excellent advisors will not only give you information on the advantages of pursuing this loan but the disadvantages too. You will receive an explanation of the potential impact on your state benefits and the overall value of your estate.
What does your advice process look like?
This question is crucial since it gives you an idea of what type of advisor you have. Advisors have different ways of dealing with their clients. You want to know that you are getting your money’s worth for this partnership. The goal by the end of the sessions should be that you know which way to move forward.
After listening to the responses, you can decide whether or not you will pursue the plan. You can check out http://www.55plusequityrelease.com if you wish to get help from a loan advisor now. Take your time to think about your final decision once you have listened to what the experts have to say regarding your plan.