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Home  »News  »Property News

Homeowners seeking advice on equity release

29/12/2009

Specialist advice is crucial for older homeowners considering the possibility of seeking equity release, it has been reported. According to the Equity Release Solicitors’ Alliance ERSA, consumers are spending longer researching their product choices and seeking professional expertise before committing to a particular course of action. Senior property owners are also making sure their financial adviser is easily contactable and has a thorough understanding of their clients' financial circumstances, the firm reported. Commenting on the findings, property expert Ed Chappell agreed that specialist impartial advice is "essential" when considering equity release. "We believe the value of independent advice cannot be overstated," he added. "As with all financial products, the terms and conditions of equity release schemes vary especially as there is a wide range of options with over 40 different products available." Mr Chappell suggested that choosing the wrong plan can ultimately cost families thousands of pounds. According to unbiased.co.uk, equity release plans can provide a lump sum, a regular income or both. Get a free equity release guide and find out how you can get some additional income Posted by Jez Walters

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