Equity release advice 'helps in finding the right choice'

For the over 50s, equity release can be an effective way of boosting retirement income by unlocking some of the money tied up in their home.

But according to one expert, it is important that people speak to an independent advisor before going ahead with it.

Dean Mirfin, group director at Key Retirement Solutions, said equity release advice can help retirees or those about to retire make the right choice.

It also gives them the greatest access to the market, as the majority of equity release plans are only available through intermediaries.

Mr Mirfin stressed that making an appointment with an advisor does not mean that people are obliged to sign up to an equity release plan.

"An appointment is designed to personalise the advice you get and also encourage you to look at the alternatives to see if equity release is the right choice to make," he remarked.

Research published recently by the Equity Release Solicitors Alliance shows that 32 per cent of equity release customers choose products based on adverts, while 19 per cent used their existing financial advisor.

To view businesses and services in our Equity Release section click here

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