Equity Release Supermarket, an award-winning and independent broker, stands out in the UK for its specialised advice and services on equity release products. 

In a market where the options for equity release have nearly tripled in recent years,¹ finding the right product can be overwhelming. 

When it comes to finding the right fit for your financial needs, the expertise of such companies proves invaluable.

Our team of financial experts has compiled this detailed guide to give you a clearer picture of what to expect from Equity Release Supermarket. 

This resource is designed to offer unbiased insights, ensuring you are well informed about their services and offerings

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

What Is Equity Release Supermarket and Its Services?

Equity Release Supermarket is a specialist advisor, offering bespoke equity release solutions and related financial services.

Who is Equity Release Supermarket?

Founded in 2008 by Mark Gregory, Equity Release Supermarket has become a prominent figure in the equity release market. ²

The company is dedicated to providing top-tier advice and services for equity release products, aiming to help customers achieve their financial objectives in retirement. 

Its commitment to excellence is reflected in the multiple awards and accolades it has received, highlighting its superior performance and quality in the industry.

What Services Does It Offer?

It provides a comprehensive range of services to help customers find and access the best equity release products for their needs and circumstances. 

Some of these services are:

• Specialist Advice: Offering independent, whole-of-market advice, they cover products like lifetime mortgages, home reversion plans, retirement mortgages, and retirement interest-only mortgages.
• Application Assistance: They aid in the application process, liaising with providers and solicitors, ensuring accuracy and efficiency.
• Property Valuation: Arranging property valuation to determine borrowing amounts and plan terms.

What Tools Does It Offer?

It offers a range of tools to help customers understand and access equity release products. 

Some of these tools are:

• Calculator: A user-friendly tool to estimate potential borrowing amounts and repayment figures. Customers can use the calculator to compare different scenarios and options, and to request a personalised illustration.
• Guides: Comprehensive resources that delve into different facets of equity release, offering valuable information.
• Videos and Blog: Insightful content from the CEO and team, offering expert perspectives and updates in the field.

How Can Equity Release Supermarket Help You?

It guides homeowners over 55 through the equity release process, helping them choose suitable schemes from trusted providers.

What Exactly Entails the Process of Equity Release?

Equity release is a financial arrangement allowing homeowners, typically aged 55 and older, to access the equity (cash value) tied up in their property without the need to sell it.

Common methods include lifetime mortgages or home reversion plans, providing a source of funds for various financial purposes during retirement.

Which Providers Does It Work With?

Equity Release Supermarket works with all equity release providers in the UK, not just a limited panel or its own branded plans. 

This means that you can compare deals from a wide range of options to find the best one for your needs and circumstances

This company works with several providers including Aviva, Canada Life, Hodge, Just, Legal & General, LV=, More2 Life, OneFamily, Pure Retirement, and Retirement Advantage, amongst others.

What Is the Best Equity Release Scheme For Me?

When it comes to choosing the best equity release scheme for you, it’s important to consider your individual circumstances and needs.

Finding the right scheme can be overwhelming, but by doing thorough research and seeking expert advice, you can make an informed decision.

Look for schemes that offer flexible options, such as the ability to release funds in stages or make voluntary repayments.

Additionally, consider schemes that offer safeguards, such as the inclusion of a “no negative equity guarantee” to protect your inheritance.

By carefully evaluating your options and seeking professional guidance, you can find the equity release scheme that best suits your specific requirements.

Considering lifetime mortgages as a potential equity release scheme.

With a lifetime mortgage, you can release a tax-free lump sum or receive regular payments while retaining ownership of your property.

This option allows you to benefit from any future increase in property value.

Additionally, you have the flexibility to repay the loan or interest, which can help minimize the amount you owe over time.

By exploring the different types of lifetime mortgages available and consulting with a qualified advisor, you can determine the best scheme that aligns with your financial goals and circumstances.

What Are the Pros and Cons of Choosing Equity Release Supermarket?

The firm provides expert advice with transparent benefits and potential drawbacks, tailored to individual financial situations.

Benefits of Equity Release Supermarket

The company offers several benefits for customers who are looking for equity release advice and products.

Some of these benefits are:

• Membership with the Equity Release Council: This ensures adherence to industry standards and safeguards, including a no-negative equity guarantee, which protects customers from owing more than their home’s value.
• Regulation by the Financial Conduct Authority (FCA): As a regulated entity, Equity Release Supermarket must follow FCA rules, offering customers the security of the Financial Services Compensation Scheme and access to the Financial Ombudsman Service for any issues.
• Independent and Comprehensive Market Coverage: The company provides unbiased advice, offering products from the entire UK equity release market, not limited to specific providers or in-house plans.

Drawbacks of Equity Release Supermarket

While offering several benefits, there are certain drawbacks that customers should consider. 

These include: 

• Not Suitable for Everyone: Releasing equity can diminish the value of an estate, affect eligibility for means-tested benefits, and limit future financial options. Alternatives like downsizing, using savings, or borrowing from family should be considered.
• Long-Term Commitment: Changing or ending a plan can be challenging and expensive. It’s crucial for customers to thoroughly understand the terms, including potential fees like early repayment charges, and seek independent advice.
• Broker Role: As a broker and not a lender, Equity Release Supermarket acts as an intermediary. They may receive varying commissions from providers, which could influence the product recommendations and availability on their platform.

Understanding the Financials: Costs and Fees at Equity Release Supermarket

They detail all associated costs and fees upfront, ensuring customers understand the financial implications of equity release.

Costs and Fees of Equity Release Supermarket

The firm charges a fixed and competitive advice fee of £1495, which is payable only when the plan is completed, not upfront.³

This fee covers the cost of the advice, the application, the valuation, the legal work, and the completion. 

While there are no additional fees for its services, be aware of the varying costs associated with the specific product you choose, as these differ by provider. 

For a clear understanding of how these expenses will affect your total payment and debt, review your plan’s terms and request a personalised illustration from your adviser or provider.

Is Equity Release Supermarket Regulated?

Yes, it is regulated by the Financial Conduct Authority (FCA), the UK’s financial watchdog that ensures that financial firms operate fairly and transparently. 

This means that it has to comply with the FCA’s rules and principles, and customers have access to the Financial Services Compensation Scheme and the Financial Ombudsman Service in case of any problems. 

Equity Release Supermarket’s FCA registration number is 584063.⁴

Ensuring Quality and Trustworthiness

Equity Release Supermarket is regulated and committed to handling complaints diligently, underscoring its dedication to quality and trust.

How Does It Handle Complaints?

Equity Release Supermarket is committed to delivering the highest level of service and satisfaction, but if you encounter any issues or have complaints, you can raise your concerns by phone, email, or through its website. 

It will acknowledge your complaint within five working days and strives to resolve it within eight weeks. 

If you’re dissatisfied with the resolution, you have the option to escalate the matter to the Financial Ombudsman Service, an independent organisation that can review and adjudicate your complaint.

How Did We Review the Information on Equity Release Supermarket?

In our reviewing process, we conducted a detailed analysis that included scrutinising its website for service and product information, verifying compliance with regulatory bodies like the FCA and Equity Release Council, and assessing customer reviews on platforms like Trustpilot. 

We compared its offerings to industry standards, evaluated the qualifications of its financial advisors, and examined the tools and resources it provides. 

Additionally, we assessed its range of products, customer support efficiency, market presence, and data security measures. 

This comprehensive approach ensured a well-rounded and objective evaluation.

Getting Started and Getting Help

Starting with Equity Release Supermarket is straightforward, offering easy contact options for comprehensive support and guidance.

How to contact Equity Release Supermarket

You can contact Equity Release Supermarket by using any of the following methods:

• Phone: You can call on 0800 802 1051 or 01925 830 816, Monday to Friday from 9am to 8pm, and Saturday from 9am to 5pm. You can also request a callback by filling in an online form on its website.
• Email: You can send an email to info@equityreleasesupermarket.com
• Post: You can send a letter to Genesis Centre, Science Park South, Birchwood, Warrington, WA3 7BH.
• Live chat: You can use the live chat feature on its website. 

Common Questions

In Conclusion

Navigating the complexities of unlocking the financial potential of your home requires careful consideration and expert guidance. 

Equity Release Supermarket, with its comprehensive range of products, transparent fee structure, and commitment to providing unbiased advice, stands as a reliable partner in this journey. 

Whether you’re exploring options for additional retirement income or seeking to understand the nuances of different plans, it offers the tools and expertise necessary to make informed decisions. 

Ultimately, Equity Release Supermarket emerges as a key facilitator for those looking to make the most of their property’s equity in a secure and informed manner.

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.