Choosing the best equity release company for your needs is an important decision and requires careful research. You will want to choose a provider that has excellent customer service and offers competitive rates. Additionally, it’s essential that the equity release provider you select is regulated by the Financial Conduct Authority and is a member of the Equity Release Council.
Some of the most reputable top 10 equity release companies in the industry include Hodge Lifetime, Aviva, More2Life, and Pure Retirement. These providers offer a wide range of lifetime mortgage plans that cater to different requirements. For example, Aviva’s Plan Finder tool allows homeowners to explore the maximum loan-to-value of their property. It also provides options like inheritance safeguarding and downsizing protection.
Hodge Lifetime, on the other hand, is a leader in the industry with a reputation for superior customer services. Their simple online tool helps homeowners compare plans and find the perfect solution for their unique situation. Its streamlined process is a big reason why it won the Best Advice Provider award at the 2022 What Mortgage Awards.
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Another notable equity release company is Legal & General Home Finance. They are a leading provider with 30% market share, offering flexible plans that can accommodate varying financial needs. For instance, their maximum lifetime loan is PS2 million and they allow customers to borrow funds in either lump sum or drawdown form. Additionally, they have one of the fastest approval processes in the industry. This is especially helpful for those who need access to their home equity immediately.