Could Go.Compare equity release services potentially help you secure the best deal on your financial products? With so many equity release schemes available, researching them all on your own can feel overwhelming.

That’s where we come in.

Go.Compare offers a convenient way to compare a wide range of financial products, ensuring you find competitive rates and terms that match your needs. To simplify the process, our experts at EveryInvestor have crafted this guide to walk you through the essential steps.

Let’s get started…

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 Go.Compare. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Go.Compare.

Go.Compare’s Role in Financial Product Comparison: Who Are They?

Go.Compare is a UK-based comparison site that allows consumers to compare financial products such as insurance, loans, mortgages, and utilities; their role in the financial product comparison market is to provide clear and transparent information, helping users make informed decisions by comparing features, costs, and benefits.¹

Go.Compare stands out for being the first UK site to list policy details beyond just prices, offering independent comparisons across various products (excluding equity release schemes).²

The Newport, South Wales-based site is a part of Future Plc, and is accredited by the Insurance Fraud Bureau and BIBA, acting as a broker for a wide range of insurance products and financial services offered by third-party underwriters and offering confidence in its reliability.³

How to Compare Equity Release Options in the UK with Go.Compare

You can compare equity release options in the UK with Go.Compare by using their online platform to access a range of plans from different providers.

Here are 6 steps to keep in mind:

1. Explore Various Options: Begin by reviewing the different equity release products available on Go.Compare, such as lifetime mortgages and home reversion plans. This initial step will help you understand the range of products and features offered.
2. Evaluate Terms: Carefully assess the terms of each option, including interest rates, repayment flexibility, and the potential impact on your estate. Understanding these details is crucial for making an informed decision.
3. Assess Impact on Benefits and Taxes: Consider how releasing equity might affect your eligibility for means-tested benefits and your tax situation. This step is important to ensure there are no unexpected financial consequences.
4. Consult an Independent Financial Adviser: For personalized advice, consult with an independent financial adviser who specializes in equity release. They can provide insights tailored to your specific circumstances and help you navigate the complexities of these products.
5. Use Comparison Websites Cautiously: While Go.Compare provides valuable comparison tools, remember that not all providers may be included. It’s beneficial to cross-reference information with other sources.
6. Check Provider’s Reputation: Ensure that the providers you are considering are reputable and members of the ERC (Equity Release Council). This membership indicates adherence to industry standards for consumer protection.

By following these steps, you can effectively compare equity release options on Go.Compare and choose the one that best aligns with your financial goals and needs.

For more detailed information, you can visit Go.Compare’s equity release page.

Why Choose Go.Compare for Equity Release Comparison?

You should consider Go.Compare because it is always impartial and prioritises finding the best provider for your needs.

Go.Compare only works with companies it can rely on and, since opening its doors in 2006, has managed to build up a strong network of partners it can trust.⁵

Privacy is crucial, so the company adheres to strict security procedures when disclosing your personal information.

Pros and Cons of Using Go.Compare

When considering using Go.Compare to compare equity release options, it’s essential to weigh the benefits and potential drawbacks.

Below, we outline the key pros and cons to help you make an informed decision about utilizing this comparison tool for your financial planning needs.

Go.Compare Pros

The pros of Go.Compare include:

• Money-saving: Go.Compare provides quotes from multiple providers, enabling you to choose the most affordable one.
• Convenience: The site is quick and easy to use, offering a vast amount of information and allowing you to compare numerous quotes instantly, avoiding the need to fill in individual application forms.
• Wide Range of Options: Go.Compare covers a broad spectrum of financial products, giving you access to a variety of equity release options and other financial services.
• Impartiality: Go.Compare is known for its unbiased comparison, ensuring you get a fair overview of available products without any conflict of interest.
• Comprehensive Information: The platform provides detailed insights into each product, helping you understand the features, benefits, and potential drawbacks.
• User-friendly Tools: Go.Compare offers various tools and calculators to help you estimate costs and benefits, making it easier to make informed decisions.
• Consumer Protection: Providers listed on Go.Compare are often members of regulatory bodies like the Equity Release Council, ensuring adherence to standards that protect consumers.

Go.Compare Cons

The cons of Go.Compare are:

• Lack of Personal Touch: When working directly with a supplier, you will often be given a point of contact who can answer your questions and ensure the product meets your specific needs. Unfortunately, this personalized service is not available when using a comparison site like Go.Compare.
• Not All Providers are Listed: Although Go.Compare includes many providers, some are not listed, such as Direct Line or Aviva. To get information on their plans, you may need to contact these providers directly.
• Limited Customization: The comparison process on Go.Compare might not account for all the unique aspects of your financial situation, which a direct consultation with a provider or adviser could address more thoroughly.
• Potential for Information Overload: The extensive range of options and details provided can be overwhelming, making it difficult for some users to decide without additional guidance.
• No Direct Advice: Go.Compare does not offer personalized financial advice, which means users might need to seek independent financial advice to ensure the chosen product is the best fit for their needs.

By considering these pros and cons, you can better understand how Go.Compare can serve your needs when comparing equity release options.

Evaluating Go.Compare’s Service Against the Market

Go.Compare stands out in the market for its user-friendly interface and comprehensive comparison of a wide variety of financial products such as insurance, loans, and broadband services.

They offer detailed insights into various plans, helping you understand the nuances between different lenders’ offers.

This level of detail ensures you’re well-informed to make a decision that aligns with your financial planning.

What Financial Services Can You Compare on Go.Compare?

From insurance to loans, Go.Compare provides a broad spectrum of financial service comparisons to cater to diverse needs.

Overview of Go.Compare’s Financial Services Comparison

Go.Compare facilitates easy comparisons across essential financial services like insurance, loans, broadband, and more.

To receive a comparison, you need to answer a few basic questions about your home and how much equity you wish to release.

The site will then compile a list of quotations based on your answers.

It does not offer advice or recommendations but will provide information to help you decide.

Financial Services Comparison Offered by Go.Compare

The services Go.Compare offers are unbiased and authorised and regulated in the UK by the Financial Conduct Authority (FCA),⁶

It’s primary focus is providing comparison details for financial products such as car insurance, pet, home insurance, and breakdown cover.

However:

It also provides comparison services for gas and electricity, loans, broadband, credit cards, and other financial products through preferred providers such as Experian.

How to Use Go.Compare for Accessing Financial Product Information

Accessing Go.Compare reveals detailed product information and comparisons, aiding users in navigating financial choices.

Accessing Financial Product Rate Information through Go.Compare

Go.Compare provides general information on equity release interest rates and notes that you could choose to pay the interest on your loan or let it accrue.

Equity release interest rates currently range from 5.65% to 5.85% AER*.

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

Insights into Financial Product Features with Go.Compare

Go.Compare’s information on equity release scheme features gives you an overview of what to expect from most lenders.

The site aims to help you make better-informed decisions when releasing equity from your home by providing an overview of the features you could expect from most plans on the market, and by finding the best one to suit your needs.

Utilizing Financial Calculators on Go.Compare

Go.Compare provides tools and calculators for the financial products they compare, focusing on areas other than equity release.

Best Practices for Choosing Financial Products on Go.Compare

Go.Compare advocates for thorough review and comparison, using tailored methodologies to ensure users find their ideal financial product.

Best Practices for Choosing Financial Products Through Go.Compare

The best practice is to thoroughly compare the features, rates, and terms of different financial products offered by Go.Compare.

Utilize Go.Compare’s comparison tools to understand potential costs, benefits, and savings.

Always consult with a financial advisor to ensure the plan aligns with your retirement goals and financial situation, making an informed decision that safeguards your future.

Review Methodology for Go.Compare’s Services

We reviewed the information on Go.Compare by researching it’s services and comparing those to it’s competitors.

We have also taken into consideration the advantages and disadvantages of using the site, as well as online customer reviews. 

Note that this is an unaffiliated, independent review of Go.Compare.

Go.Compare Customer Reviews

You can find Go.Compare reviews here:

• Go.Compare customer Reviews on UK.TrustPilot.com
• Reviews of Go.Compare on TrustPilot.co.uk

Go.Compare Complaints

If you have a complaint or wish to make a complaint on behalf of someone, you can either use the site’s online contact forms or contact Go.Compare in one of the following ways:

• Online: Complaints form
• In Writing: Gocompare.com Limited, Imperial House, Imperial Way, Newport, Gwent, NP10 8UH, UK.
• Telephone: 0163 365 4060

Understanding the Fees, Rates, and Registration Details of Go.Compare

Go.Compare demystifies financial products by clearly presenting fees, rates, and essential regulatory information to users.

Comparing Rates for Financial Products with Go.Compare

Go.Compare provides access to competitive rates for a variety of financial products, helping ensure you find a good deal tailored to your needs.

Its comprehensive comparison tools allow for a quick assessment of how various lenders’ rates and terms for other financial products stack up against each other.

This facilitates an easier decision-making process for finding the best option suited to your financial situation.

Understanding Fees in Financial Product Comparisons with Go.Compare

Go.Compare will not charge you any fees.⁷

They will only get paid if you buy a product or service from a third-party via their website.

The provider you have selected will pay the commission directly to Go.Compare.

Their services are unbiased, so they do not accept advertising or sponsored listings.  

Go.Compare’s FCA Registration Details

Go.Compare’s adherence to FCA regulations ensures a trustworthy and secure environment for comparing financial services.

Go.Compare’s Trading Names

• Go.Compare
• GoCo
• GoCompare
• Giocompario.com
• gocompare.com Limited

Go.Compare’s FCA Permitted Services

• Advising
• Arranging and making arrangements with a view to transactions in general insurance.

Regulators of Go.Compare’s Services

• Financial Conduct Authority (FCA) 

Go.Compare’s Registration Numbers

• FCA Ref Number: 465053
• Companies House Number: 05799376

FCA and Companies House Link for Go.Compare

• FCA Link: FCA Link
• Companies House Link: Companies House Link

Go.Compare’s Contact Number and Address

• +44 163 365 4060
• customerservices@gocompare.com
• Imperial House, Imperial Way, Newport, Gwent, NP10 8UH.

FAQs on Using Go.Compare for Financial Services

Conclusion

Price comparison sites such as Go.Compare are great for time-poor people who know what they are looking for.

It is quick, easy, and offers plenty of information. 

However, choosing to release equity from your home is a big decision. 

You need to understand all the risks before deciding to go ahead.

Make sure to speak to a financial adviser before committing to equity release.

For comprehensive and easy financial product comparisons, choose Go.Compare.

Find the best rates and make informed decisions with Go.Compare’s user-friendly tools.

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.