Equity release is a ‘timebomb’ for tens of thousands of homeowners in 50s who want to unlock cash. Our Financial Services Register number is 224987. Andrew Castle, 51, branded equity release schemes 'not human,' after his wife's elderly parents were left owing £46,000 when they took out a £70,000 loan against their home in Dorset. The IFA we had searched the market and got the best deal for us. Equity release is only available to those aged 55 and over. Nigel Waterson, chairman of the Equity Release Council, comments on ‘misleading’ reports about early repayment charges and interest fees on equity release products. Equity release schemes are relatively safe as the equity release providers who provide the equity release schemes are regulated by the financial conduct authority and most equity release providers are members of the equity release council which provides them with strict guidelines on how to treat customers. The numerous pictures of ecstatic Equity Release members, does not show the worrying side of Equity Release. ... that complaints will occur. You can check this on the Financial Services Register by visiting the FCA’s website register.fca.org.uk/s/ . We did equity release in 2003 and all along the line we had it all spelled out to us in words of one syllable. After a lot of discussion and advice, my husband took out some money to give to our grown up children. “A little known trap of Equity Release” Written on: 08/09/2018. Key Equity Release is a trading name of Key Retirement Solutions Limited which is authorised and regulated by the Financial Conduct Authority. You’ll find additional information about equity release on the websites of the Equity Release Council and the Money Advice Service. If you're close to 55, you may feel like you're in a position where you can wait until then. But I am just looking for thoughts given our particular circumstances. Complaints about mis-sold equity release schemes are rising as homeowners aged over 55 borrowed a record £1billion against their property in … We also have detailed information for businesses responding to a complaint about equity release. Search our decisions database to see our past decisions on complaints involving equity release mortgages. I did some research and looked on the "Equity Release Council" website for a recommended specialist in this area. Now I know most people would say it's a rip off and stay clear and I do understand the pro's and con's of it. Equity Release Specialist Recommendation Earlier this year through all the madness of the "Covid" pandemic, I decided to take out Equity Release on my property. Equity release: I wonder if I could ask for comments on equity release. 55 and over did some research and looked on the `` equity release husband took out some Money to to. 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