Age Partnership Equity Release & Lifetime Mortgage Review in 2024

Are You Considering Age Partnership’s Advice on Equity Release? Find Out All About the Type of Advice Offered by Age Partnership. Get the Answers Right Here…
  • Last Updated: 12 Feb 2024
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui

Key Takeways

  • Age Partnership, established in 2004 in Leeds, offers tailored financial solutions for over 50s, including equity release, pensions, and mortgage advice​​.
  • They have received numerous accolades, such as the MoneyAge 2023 Equity Release Broker of the Year, and boast a 5-star rating on Trustpilot​​.
  • The company provides advantageous mortgage rates, cash bonuses, and exclusive deals through partnerships with leading UK lifetime mortgage companies​​.
  • Their equity release plans are regulated by the Financial Conduct Authority and include a 'No negative equity guarantee' for customer protection​​.
  • Initial consultations are free, with a typical fee of £1,895 only applicable upon completion of a transaction​.
  • Currently, equity release rates are between 5.20% to 6.30%*

Equity release advice from Age Partnership is a viable place to start when you want to obtain your hands on tax-free money in your retirement. 

Over £6.2bln in property wealth was released from homes by equity release in the UK in 2022.1 

Could this be a viable option for you?

Equity release can be a daunting concept with so many leading options to choose from. 

Luckily, we are here to help you navigate your way around the available options.

In This Article, You Will Discover:

    Our research team at Every Investor is continuously reviewing the industry and consulting with experts to provide the latest updates.

    Could Age Partnership be the right advisory service for you?

    Therefore...

    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor only and may not reflect the views or opinions of Age Partnership. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Age Partnership.

    Who Are Age Partnership and What Do They Offer in Equity Release?

    Who Is Age Partnership?

    Age Partnership is one of the UK's best equity release advisors

    *Based on the volume of plans from a panel of lenders Q2 2022 – Q3 2022

    Operating since 2004, it offers tailored financial services to individuals over 50, including advice on mortgages, pensions, wills, lasting power of attorney, and equity release. 2

    It provides clients with access to a wide range of plans from leading lenders.

    Based in Leeds, West Yorkshire, it has over 400 employees and offers leading advice.3

    What Does Age Partnership Do?

     Age Partnership Group offers advice relating to equity release, mortgages, pension income, and insurance.      

    The service provides clients with guidance and non-advised assistance from specialists in various financial domains.

    This encompasses areas such as pension income, insurance, and a "plan ahead" service.

    The latter includes a non-advised lasting power of attorney service, as well as a referral service for creating a Will.

    It's aim is to deliver the best value and service to it's customers by working with the UK’s leading lenders. 

    Furthermore:

    The dedicated team of advisors and specialists will consider your personal and financial circumstances before exploring a range of options tailored to your needs.

    What Is Equity Release and How Can Age Partnership Help?

    What Does 'Releasing Equity' Mean?

    For those aged 55+, equity release is a tool to convert home equity into cash, without needing to sell.

    It offers an alternative to downsizing, providing a cash injection from the value of your home.

    Equity release stands out as the loan, plus interest, is only repaid when your home is eventually sold.

    This happens either when you pass away or enter full-time care, making it a long-term financial commitment.

    Read More: Releasing Equity Meaning

    Age Partnership's Advice on Equity Release or Lifetime Mortgage Plans 

    Age Partnership can advise you on any of the following equity release plans:

    • Lifetime mortgage
    • Drawdown lifetime mortgage
    • Interest-only lifetime mortgage
    • Home reversion plan

    It's expertise and knowledge enable it's team to handpick the best-suited plans for you while considering your circumstances and your goals.

    Why You Can Consider Age Partnership's Advice

    You can consider Age Partnership's advice on equity release because it has access to a wide range of plans from leading lenders. 

    It's reputation and relationships with the various UK providers could mean that you qualify for:

    • Low lifetime mortgage rates
    • Cash bonuses
    • Free valuations

    In addition to the above, working with Age Partnership affords you these additional benefits:

    • Initial advice is provided for free and without obligation. Only if you choose to proceed and your case is completed would a fee be payable.
    • Over‑the‑phone or video appointments
    • Award-winning service5
    • Access to a range of exclusive plans
    • Comparisons across leading providers

    How Can I Calculate My Equity Release with Age Partnership & Do They Have a Calculator?

    Yes, Age Partnership does have an equity release calculator.4

    If you are looking to release funds, use the fast calculator at the top of the article to see approximately how much you could release.

    What Are the Qualifications and Costs for Age Partnership Equity Release?

    Age Partnership’s Qualification Criteria

    Qualifying criteria depend on the plan you choose and the lender’s requirements. 

    The broad qualifying criteria for equity release are:

    • You are 55 or over
    • You own property in the UK
    • Your home is worth a minimum of £70,000
    • You have little or no existing mortgage on your property
    • There are no more than two people on your property title deed.

    What Is Age Partnership’s Advice on Interest Rates?

    Advice on interest rates is dependent on the plan and provider you ultimately choose. 

    Based on the Equity Release Council’s6 spring report, the average equity release interest rates were around 5.20% to 6.30%.*

    *While we regularly review our rates, these may have changed since our last update.

    What Are Age Partnership’s Fees?

    Age Partnership’s typical fee is £1,895 which is only payable once you choose to proceed and finalise a plan with it's team. 7

    It's initial no-obligation consultation is free. 

    Other fees that are typically associated with equity release but will be charged by the provider include:

    • Valuation fees
    • Arrangement fees
    • Solicitor fees
    • Consultation fees

    What Are the Advantages and Disadvantages of Using Age Partnership?

    The advantages of utilising advice from Age Partnership include gaining access to leading equity release plans, but a disadvantage is that you will need to pay a fee if you complete your application through them. 

    More advantages and disadvantages of taking advice from Age Partnership:

    Age Partnership Equity Release Pros

    Here are some pros of making use of Age Partnership’s services:

    • You will have access to award-winning equity release advisors. 
    • Your advisor will review a wide range of plans from leading lenders.
    • You will get free initial advice to help you determine if equity release is right for you.
    • The company is a member of the Equity Release Council.
    • It is authorised and regulated in the UK by the Financial Conduct Authority (FCA).8
    • Obtain a free, no-obligation quote from an advisor.

    Age Partnership Equity Release Cons

    Main cons of making use of Age Partnership’s services:

    • There is a £1,895 fee upon acceptance and finalisation of your lifetime mortgage plan.
    • Equity Release will impact the amount of inheritance you can leave to your loved ones when you pass away or move to long-term care.
    • Equity Release may not be suitable for everyone, which is why your advisor will ask you to consider other options before proceeding.
    • Once you have taken out an equity release plan, no other borrowing can be taken out using your home as security.
    • Advice is required before proceeding with equity release.

    How Reliable and Trustworthy Is Age Partnership? Insights from Reviews and Regulatory Compliance

    How Did We Review the Information on Age Partnership and Equity Release?

    We compiled this article by considering all data on the products Age Partnership offer, so we could give you the most credible information.

    Age Partnership Customer Reviews

    Reviews are, for the most part, positive, with the majority of people praising their response time, knowledge, and personal service. 

    What else their customers have to say: 

    Age Partnership Complaints

    Complaints can be directed to it's Compliance Officer by letter, email, or phone. 

    • Email them: enquiries@agepartnership.com
    • Call them: 0113 8199 659
    • Write to them: The Compliance Officer, 2200, Century Way, Thorpe Park, Leeds, LS15 8ZB.

    Age Partnership Vacancies

    Vacancies are regularly advertised on it's careers page

    Some of the roles that could be available include:

    • Customer service
    • Advisors
    • Technical assistants
    • Developers
    • Compliance Officers

    Age Partnership FCA Details

    Details as registered with the Financial Conduct Authority (FCA) are as follows:

    Trading Names

    • Age Partnership Limited
    • Age Partnership
    • Age Partnership Plus
    • Age Partnership Wealth Management Limited

    Previous Trading Names

    • Age Partnership Retirement Limited

    FCA Permitted Services

    • Insurance
    • Mortgages and Home Finance
    • Consumer Credit

    Regulators

    • Financial Conduct Authority (FCA)
    • Equity Release Council

    Registration Numbers

    Age Partnership Limited:

    • FCA Ref Number: 425432
    • Companies House Number: 05265969

    Age Partnership Wealth Management Limited:

    • FCA Ref Number: 670493
    • Companies House Number: 09073664

    FCA and Companies House Links

    Age Partnership Contact Number and Address

    • +44 800 0810 077
    • enquiries@agepartnership.com
    • 2200, Century Way, Leeds LS15 8ZB, United Kingdom.

    Frequently Asked Queries on Age Partnership Equity Solutions

    Is Age Partnership a Member of the Equity Release Council?

    Where Is Age Partnership Located?

    Who Owns Age Partnership?

    Does Age Partnership Offer Equity Release?

    Is Age Partnership Safe?

    Final Thoughts on Age Partnership Equity Release

    Age Partnership has earned the trust of many.

    It's award-winning advice and service have earned it a seat at the top of the equity release market. 

    With access to top plans, Age Partnership equity release advice is in the best position to find you the most suitable plan and negotiate the best deals on your behalf. 

    The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.

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