When considering best equity release brokers, choosing the right expert can make all the difference between a well-informed, financially sound decision and a regrettable mistake. With such substantial amounts of money on the line, professional guidance is crucial.

In Q4 2024, total lending in the equity release market rose to £622 million—a 16% increase from £525 million in Q4 2023—which suggests that people are turning to equity release as a viable financial tool.¹

At EveryInvestor, we’ve researched how the right broker can help you navigate the complexities of equity release, providing the support you need to make confident decisions.

Let’s explore why consulting the best equity release brokers is key...

What You Need to Know About Equity Release & Brokers in England

Equity release in England allows homeowners aged 55 or older to access the value tied up in their property, and equity release brokers play a crucial role in guiding homeowners through the process, helping them understand their options, and finding the best deals.

Brokers are often independent and can compare products from multiple lenders, ensuring fair advice, transparent fees, and that all legal protections are in place.

Let's take a closer look:

What is Equity Release?

Equity release is a financial product catering to homeowners, typically aged 55 and above, allowing them to unlock the cash value tied up in their property without the need to sell.

This is typically achieved through schemes like home reversion plans or lifetime mortgages, offering a way to supplement retirement income or fund various financial needs.

What Is An Equity Release Broker?

An equity release broker is a specialist who helps homeowners unlock the cash tied up in their property, providing guidance through the various equity release products available and helping find the one that best suits specific needs.

By working with a broker, you typically gain access to exclusive deals that may not be available to the public.

They also ensure that the equity release plan you choose is safe and appropriate for your financial situation, offering peace of mind throughout the process.

How Can You Find the Best Equity Release Broker?

To find the best equity release broker, start by ensuring they are fully regulated by the Financial Conduct Authority (FCA), and have a strong reputation, positive customer reviews, and experience in the equity release market.

A good broker should offer unbiased, independent advice and be able to explain all your options clearly, including any associated costs and risks.

Here are the steps for you to take:

Where Should You Start When Choosing an Equity Release Broker?

When choosing an equity release broker, start by checking their credentials to ensure they are regulated by the FCA.

Research their experience in the market and read customer reviews to assess their reputation and make sure the broker is independent and can offer a range of products from different providers.

Consider these important actions:

1. Do your own research by looking for brokers who are FCA-registered and are members of the Equity Release Council (ERC).
2. Ask for recommendations from friends or family who have had previous experience releasing equity.
3. Contact the brokers and get a free initial consultation and a no-obligation quote from them.

What Are the Key Qualities to Look For in a Broker?

Key qualities to look for in a broker include clear communication and commitment to ERC standards.

Check out all the key qualities and credentials to look out for:

• FCA Registration Assurance: Holding an FCA registration signifies that the broker operates under the stringent rules, regulations, and ethical codes of conduct set by the Financial Conduct Authority, ensuring trustworthy and compliant service.
• Commitment to Equity Release Council Standards: Membership in the ERC guarantees that your broker upholds the council's rigorous standards. This includes providing transparent and honest information, ensuring access to independent legal advice, and offering equity release products with a no-negative-equity guarantee for your financial safety.
• Impartiality: An independent broker offers impartial and comprehensive guidance, free from any obligations to specific lenders or products. This ensures that the advice you receive is solely focused on your best interests.
• Clarity in Communication: Effective communication is key. A proficient broker will articulate the pros and potential cons of equity release in a clear, easy-to-understand manner, ensuring you are well informed and comfortable in making decisions. They are also equipped to address any queries you might have, simplifying complex financial concepts.

Who Are the Best Equity Release Brokers?

The best equity release brokers are those that are fully regulated by the FCA and have a strong reputation for providing independent, unbiased advice; these include Pure Retirement and Age Partnership.

These brokers are trusted for their experience, expertise, and commitment to helping clients make well-informed decisions about equity release

Some of the top brokers in the UK include:

1. Key Advice – Known for its expert guidance and comprehensive range of equity release options.
2. Age Partnership – Offers personalised advice with a focus on customer satisfaction and an extensive network of lenders.
3. Pure Retirement – Provides tailored solutions and has a great reputation for transparency and support.
4. The Equity Release Experts – Specialises in providing independent advice and a wide choice of equity release products.

What Role Does a Broker Play in Your Equity Release Journey?

An equity release broker plays a crucial role in helping you navigate the complexities of unlocking cash from your home, offering expert, independent advice onequity release schemes and ensuring you choose the most suitable option for your financial needs.

A broker essentially serves as both a knowledgeable guide and a trusted adviser. 

Let’s take a closer look at what they can do for you:

How Can a Broker Help You Find the Best Equity Release Plan?

A skilled broker can help you find the best equity release plan by carefully assesses your financial situation, long-term goals, and home equity to recommend the most suitable option—whether it’s equity release or an alternative financial solution.

Many lenders prefer to work through brokers due to the complexity of these products and industry regulations, meaning you gain access to exclusive deals that may not be available directly.

Key benefits of working with a broker include:

• Tailored Recommendations – Brokers match you with plans that fit your unique needs.
• Access to More Lenders – Some lenders only operate through intermediaries, giving you more options.
• Regulatory Expertise – They ensure your chosen plan complies with FCA guidelines and ERC standards.

What Are the Pitfalls of Equity Release, & How Can a Broker Help?

Although equity release allows you to unlock the value tied up in your home, the pitfalls are that it’s a major financial commitment that can impact your estate and eligibility for certain state benefits.

A responsible broker ensures you fully understand the potential risks before proceeding.

They will:

• Explain the Long-Term Costs – Interest can compound over time, significantly reducing your home's equity.
• Assess Impact on Inheritance – Equity release can reduce the value of assets passed to your loved ones.
• Review State Benefits – Some means-tested benefits may be affected by a lump sum or drawdown payments.
• Offer Alternative Solutions – If equity release isn’t the best fit, they will explore other financial options.

How Can a Broker Assist With Your Equity Release Application?

Applying for equity release is more complex than a standard mortgage application, and a broker can assist with this application process by removing the overwhelming factor and providing the help you need.

Even if you have experience with buying or remortgaging a home, handling this type of application by yourself might be daunting.

A broker simplifies this by:

• Handling Paperwork – They ensure your application is accurate, complete, and includes all necessary documents.
• Liaising With Key Parties – Brokers coordinate with solicitors, surveyors, and lenders, streamlining the process.
• Providing Expert Guidance – They clarify each step, preventing delays or costly mistakes.

This expert support not only saves time but also reduces stress, making the journey to unlocking your home’s equity much smoother.

What Information Will Your Broker Need?

To provide tailored advice, your broker will need infromation that includes a detailed overview of your financial and personal circumstances; income, regular expenses, and any existing debts are typically required.

Additionally, your broker will require details about your property, including its current value and any outstanding mortgage balance, and details on particularly how you intend to use the funds released and whether you wish to leave an inheritance for your loved ones.

Health and lifestyle factors may also be relevant, as some equity release plans offer better terms for individuals with specific health conditions.

What Are Brokerage Fees & What Should You Expect?

When using a broker for equity release, it’s important to understand that you will incur a fee for their services—this fee covers various aspects of the process, including market research, recommending the most suitable product for your needs, and handling your application.

The amount you pay can vary depending on the broker you choose and the sum of equity you wish to release, but typically, equity release advice fees range between £795 and £895.⁴

However, some brokers may charge a percentage of the loan amount, or a flat fee that could be either higher or lower than this range.

What Are the Pros & Cons of Using a Broker?

The pros of using a broker for equity release include expert advice, access to a wider range of products, and help with navigating complex paperwork; the cons, however, are that brokers may charge fees or receive commissions from lenders, which could impact the overall cost of the plan.

Before proceeding with equity release, it's crucial to consider these factors and seek independent financial and legal advice.

Pros include:

• Expert and Unbiased Advice: Brokers provide insights into equity release, evaluating your financial situation, health, and future plans to recommend the best option.
• Access to Various Products and Lenders: They compare deals across lenders, considering rates, fees, and product features, and offer options not directly available to consumers.
• Application Process Assistance: Brokers facilitate the application, coordinating with solicitors, lenders, and surveyors for a smooth process.

Cons include:

• Broker Fees: Their fees, either a percentage of the loan or a flat rate, can impact the final amount you receive or owe.
• Limited Options: Some brokers may not access all market products, potentially limiting your choices.
• Potential Bias: Not all brokers are independent, which might affect the impartiality of their advice. It's important to verify their FCA registration, Equity Release Council membership, and independence.

Common Questions

In Conclusion

Choosing the right equity release broker can make all the difference in securing the best financial solution for your retirement, as a trusted broker provides not only expert advice but also practical assistance with navigating the application process.

While it’s important to consider factors like fees and potential biases, the key is finding a broker who understands your unique needs and priorities.

With careful research and independent advice, you can confidently partner with the right professional to ensure that your equity release decision supports your long-term financial well-being.

Take the time to choose wisely, and you’ll be on track to a secure and financially comfortable retirement.

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.