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Equity Release Advice Service

Dip your toe in the water with help from the Age Co Equity Release Advice Service, provided by HUB Financial Solutions Limited.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

  • Tax-free cash for retirement
  • Clear and tailored advice
  • No obligation to buy
  • Continue to stay in your home
  • Free State benefits check
  • UK based team
Donations to Age UK’s charitable work from Age Co sales are expected to reach £3 million each year

About

Age Co’s Equity Release Advice Service, provided by HUB Financial Solutions, is designed to help you decide if releasing cash from your home is right for you.

This service comes with no obligation to take out equity release. HUB aims to help you get your ducks in a row by reviewing your finances, explaining what options you have and help you make an informed decision on what to do next.

HUB promise to give you:

  • Clear, tailored advice with no jargon  
  • Details about how equity release reduces the value of your estate
  • Confidence by encouraging you to include your loved ones in your decision
  • A free State benefit review to ensure you receive any financial support to which you’re entitled
  • Explanation of how equity release affects any means-tested benefits
  • Reassurance that you will only be recommended products provided by members of the Equity Release Council
  • No obligation advice
  • You’ll pay an advice and arrangement fee only if you proceed to take out a product recommended by your adviser

Useful information

You could be eligible for equity release if you’re:

  • Aged 55+†
  • A UK homeowner with a property worth over £70,000†

 †Minimum age, property value and construction criteria vary between providers.

Advice and arrangement fees
You’re under no pressure to buy a product recommended to you during the advice service. If you do decide to go ahead, an advice and arrangement fee of £995 is payable to HUB Financial Solutions Limited. You can use some of the money you release to pay for this.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Use the calculator now

Phone lines are open Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

The advice was extremely helpful. It was easy to understand all the information we were given.

Beatrice, Essex

What is equity release?

Equity is the value of your home once you’ve taken away any outstanding mortgage, or other form of debt secured against it.

Equity release is a way you can access some of this money. You’ll get a lump sum of tax-free cash and get to stay in the home you love.

There are two types of equity release available, lifetime mortgages and home reversion plans.

Lifetime mortgage:

A lifetime mortgage is a type of loan secured against your home. It allows you to release a cash lump sum from the value of your property. Features include: 

  • No need for regular repayments
  • Interest will be added to the loan. The amount you owe will continue to grow as interest accumulates and is usually added to the loan over the long term. The loan is usually repaid when you (or both of you if borrowing jointly) die, or when you move into permanent long-term care and the property is sold
  • Interest repayment options are available on some products

Home reversion plan:

Home reversion plans involve selling part, or all of your property, to a home reversion provider in return for a cash lump sum. Features include:

  • No regular repayments necessary 
  • You won’t receive the full market value for the portion that you sell
  • The home reversion provider will sell the property at full market value when you die or move into permanent long-term care. They will then receive their share of the proceeds of the sale

 

Useful information

You could be eligible for equity release if you’re:

  • Aged 55+†
  • A UK homeowner with a property worth over £70,000†

 †Minimum age, property value and construction criteria vary between providers.

Advice and arrangement fees
You’re under no pressure to buy a product recommended to you during the advice service. If you do decide to go ahead, an advice and arrangement fee of £995 is payable to HUB Financial Solutions Limited. You can use some of the money you release to pay for this.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Use the calculator now

Phone lines are open Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

The Age UK Equity Release Advice Service gave me peace of mind. The adviser I had was excellent.

Ronald, Peebles (The Age Co Equity Release Advice Service was previously known as the Age UK Equity Release Advice Service)

How could equity release help me?

There are many reasons why you may be considering equity release. Unlocking some of the money tied up in your home could help you fund day-to-day living expenses. Or, you might have something specific in mind, like helping younger family members onto the property ladder.

What’s more, with house prices rising significantly over the last 25 years, you may be pleasantly surprised by the current value of your property.

Reasons for considering equity release:
You will have your own reasons for considering equity release. If you take out an equity release product, you will be able to remain living in the home you love whilst releasing money, to do things like:

  • Carry out home improvements
  • Take the holiday of a lifetime
  • Ease money worries
  • Buy a new car
  • Offer a financial gift to loved ones

Equity release will reduce the value of your estate. Although you do have options where you can still leave part of your estate to your loved ones.

Useful information

You could be eligible for equity release if you’re:

  • Aged 55+†
  • A UK homeowner with a property worth over £70,000†

 †Minimum age, property value and construction criteria vary between providers.

Advice and arrangement fees
You’re under no pressure to buy a product recommended to you during the advice service. If you do decide to go ahead, an advice and arrangement fee of £995 is payable to HUB Financial Solutions Limited. You can use some of the money you release to pay for this.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Use the calculator now

Phone lines are open Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

Equity release meant I could get a walk-in shower. Mine was over the bath, which made things difficult! I think a nice holiday for my 80th is now possible too.

Ursula, Sheffield

How the service works

As your home is likely to be your biggest asset, you’ll want to make sure you receive the best possible advice and support.

Here's how the service works:

1) Get in touch

Call 0808 252 4236 and one of HUB Financial Solutions' specialist team will discuss your circumstances, review your eligibility, and, if appropriate, arrange an appoinment for you to talk to an adviser either over the phone or in your home.

2) Your first appoinment

You'll discuss your needs with an adviser who will help you decide if equity release is right for you. They'll help you consider your options, explain how equity release reduces the value of your estate, look at alternatives and answer any questions.

3) Your second appointment

Your adviser will present their recommendations to you. If you feel comfortable and want to go ahead, your adviser will help you complete your application. Your completed application will be sent to your chosen equity release provider who will arrange a valuation of your property. You'll need to find a solicitor who will work alongside your providers solicitor to put al the relevant paperwork into place. Your adviser will also confirm any fees that may be payable and when these will be due.

4) Receiving your tax-free cash

Once all paperwork and legal matters are complete, your equity release provider will issue your funds to your solicitor. This takes on average eight weeks from the time the application is received.

Useful information

You could be eligible for equity release if you’re:

  • Aged 55+†
  • A UK homeowner with a property worth over £70,000†

 †Minimum age, property value and construction criteria vary between providers.

Advice and arrangement fees
You’re under no pressure to buy a product recommended to you during the advice service. If you do decide to go ahead, an advice and arrangement fee of £995 is payable to HUB Financial Solutions Limited. You can use some of the money you release to pay for this.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Use the calculator now

Phone lines are open Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

The team I spoke to were extremely friendly and professional. They made me feel comfortable and in control of the decision. They weren’t pushy or salesy at all.

I involved my son in my decision making.

Ursula, Sheffield

The products

As a customer of the Age Co Equity Release Advice Service, through HUB Financial Solutions you'll have access to a number of equity release products from a range of trusted providers - like Legal & General, More2Life and Just.

Plus, as an Age Co customer, you'll get exclusive access to a Just product, available with or without cashback. It's a drawdown lifetime mortgage provided by Just Retirement Money Limited. The key features of the product are:

Product option 1 Product option 2
£1,500 cashback  £0 cashback
Free valuation Free valuation
4.85% AER 4.65% AER
Provider set up fee £600 Provider set up fee £600
Minimum initial advance of £30,000 Minimum initial advance of £10,000
Draw down further funds from as little as £500 at a time Draw down further funds from as little as £500 at a time
From age 60 From age 60

Things to consider

A lifetime mortgage means the money you borrow is secured against your home.

These are current deals offered by Just Retirement Money Limited, who reserve the right to amend or withdraw them at any time.

Your adviser will only recommend an equity release product that is suitable for your needs. This may be one of the exclusive product options above. Alternatively, it may be from another product provider. Your personal recommendation will be explained to you in detail by your adviser.

What customers say

The Age Co Equity Release Advice Service was previously known as the Age UK Equity Release Advice Service

The Age UK Equity Release Advice Service gave me peace of mind. The adviser I had was excellent.*

Ronald, Peebles

Equity release meant I could get a walk-in shower. Mine was over the bath, which made things difficult! I think a nice holiday for my 80th is now possible too.

The team I spoke to were extremely friendly and professional. They made me feel comfortable and in control of the decision. They weren’t pushy or salesy at all.

I involved my son in my decision making.

Ursula, Sheffield

The advice was extremely helpful. It was easy to understand all the information we were given.

Beatrice, Essex

Useful information

You could be eligible for equity release if you’re:

  • Aged 55+†
  • A UK homeowner with a property worth over £70,000†

 †Minimum age, property value and construction criteria vary between providers.

Advice and arrangement fees
You’re under no pressure to buy a product recommended to you during the advice service. If you do decide to go ahead, an advice and arrangement fee of £995 is payable to HUB Financial Solutions Limited. You can use some of the money you release to pay for this.

Call HUB for FREE today 0808 252 4236 0808 252 4236

Use the calculator now

Phone lines are open Monday to Friday, 9am to 5pm, excluding bank holidays. Calls are monitored for training and regulatory purposes.

Frequently asked questions

Are there any limits on what I can release?

Yes. Factors such as your age and the value of your home will determine the amount of money you can release.

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What is a drawdown lifetime mortgage?

A drawdown lifetime mortgage enables you to release some of the money you have tied up in your home by providing you with an initial payment, together with an approved 'cash facility' that you can draw on, as and when you need it.

No repayments are required until the death of the last surviving borrower, or their entry into permanent long-term care. Interest is 'rolled up' at a fixed rate until the mortgage is repaid. Any additional advances (also known as drawdowns) will attract interest at a fixed rate agreed at the time.

It is important to note that a lifetime mortgage is secured against your home.

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What happens if I want to move house?

As long as the new home you wish to move to meets the acceptance criteria of your equity release provider, then you should be able to transfer your plan to a new property. In some circumstances, for example down-sizing to a smaller property, a part repayment of the equity released may be required.

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What happens to my partner if I die?

If the plan is in both your names then it will continue until the death of the last surviving borrower – allowing them to remain living there until they die, or go into permanent long-term care. However, if your property and the equity release plan are held in your name only, the property would usually have to be sold and your partner would have to find somewhere else to live (unless they were able to repay the equity release plan in full).

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What is a no negative equity guarantee?

A no negative equity guarantee is offered by all Equity Release Council members (subject to you meeting plan conditions). It applies to lifetime mortgage products where the loan is secured against your home.

It means that, when the property is sold after you die or move into permanent long-term care, you or your beneficiaries will not have to repay more than the sale proceeds. Even if they are less than the amount owed.

HUB Financial Solutions (the provider of the Age Co Equity Release Advice Service) is a member of, and only recommends providers who are members of, the Equity Release Council. So any lifetime mortgage HUB Financial Solutions recommend to you comes with a no negative equity guarantee.

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What happens if I want to end the plan early?

Equity release plans are long-term commitments, designed to be paid back only when you die or move permanently into long-term care.

If you take out a lifetime mortgage and repay prematurely, there could be a substantial early repayment charge. Different lifetime mortgage providers calculate these charges differently. The amount concerned will be detailed in the lifetime mortgage provider’s documentation.

If you take out a Home Reversion Plan and decide to repay the plan early, you would need to buy back the share of the property sold to the reversion provider at the full current market value. This may be substantially more than you were paid for that share depending on house price movements.

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What fees will I typically need to pay?

If you decide to go ahead and take out a product recommended by HUB Financial Solutions through the Age Co Equity Release Advice Service, you will need to pay a fee of £995 for the advice and for arranging the plan. There are other fees associated with equity release, these include: application, valuation and legal fees. Some of these fees can be added to the money being released. Your HUB Financial Solutions adviser will talk you through these at your appointment.

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What about the risk involved with equity release?

The risks will depend upon the type of equity release plan you choose. Consolidating existing debts using equity release could end up costing more in the long term, so you should think carefully before securing other debts against your home. Equity release will reduce the value of your estate and it may affect your entitlement to means-tested state benefits. Your HUB Financial Solutions adviser will talk you through all of this and the risks involved in your appointment. 

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I’m interested in finding out more, what are the next steps?

If you’re interested in equity release and getting advice, here’s what to do next:

Get in touch: Get in touch via phone on 0808 252 4236 (lines are open 9am - 5pm, Monday - Friday (excluding Bank Holidays). Calls are monitored for training and regulatory purposes. You can also get in touch by using the equity release calculator or request a brochure.

Your first appointment: You will meet with an adviser to discuss your needs. A detailed discussion about your circumstances is carried out including any income you have and any state benefits you receive (if applicable). 

Your second appointment: Your adviser will present their recommendation to you and explain if taking out equity release will affect your tax status or State benefit entitlement. If you decide to go ahead, they will also confirm any fees that may be payable and when these will be due. 

Making an application: Your adviser will help you to complete your application which will be sent to your chosen equity release provider. Your chosen provider will arrange for a valuation to be made on your property. You'll need to find a solicitor who will work alongside your provider's solicitor to put all the relevant paperwork into place.

Receiving your tax-free cash: Once all paperwork and legal matters are complete, your equity release provider will issue your funds to your solicitor.

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Get in touch

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The online calculator and Age Co Equity Release Advice Service is provided by HUB Financial Solutions Limited.

The Age Co Equity Release Advice Service is provided by HUB Financial Solutions Limited. Registered Office: Vale House, Roebuck Close, Bancroft Road, Reigate, Surrey RH2 7RU. Registered in England and Wales no. 05125701. HUB Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority. Part of the Just Group plc. Age UK Enterprises Limited trades under the trading name Age Co. Age UK Enterprises Limited (registered in England and Wales no. 3156159) is a trading subsidiary company of Age UK (registered charity, no.1128267) and donates its net profits to Age UK. Age UK Enterprises Limited is authorised and regulated by the Financial Conduct Authority, FS Register number 311438. Age UK Enterprises Limited receive commission from HUB Financial Solutions Limited of up to 0.75% of the amount advanced under each equity release plan sold together with a contribution towards marketing support.

ER8100V1MAR18

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