If you are a retiree looking for excellent financial and equity release advice, you may want to look into MoneySavingExpert.

Make sure you do not get caught and pick an unscrupulous lender because this could potentially cost you money in the long run. 

We are here to point you in the right direction and ensure you have all the relevant facts to choose the best provider for your needs.

Our economic experts work tirelessly to bring you the most up-to-date market information about leading providers. That way, you have the facts to help you make an informed decision.

Therefore:

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

Who Is Behind MoneySavingExpert and How Can It Help You?

Founded by Martin Lewis, MoneySavingExpert.com offers guidance on financial decisions, including equity release schemes.

Who Is MoneySavingExpert?

MoneySavingExpert.com is one of the top consumer websites in the UK and focuses on helping its users cut their costs and bills.

The site has more than 16 million visitors monthly who turn to MoneySavingExpert to find out where to find great deals, how to save on bills, and how to fight for their economic rights.¹

MoneySavingExpert was founded in 2003 by Martin Lewis, a well-known financial journalist.

The site joined the MoneySupermarket Group in September 2012 and secured its future.

Why Consider Martin Lewis & MoneySavingExpert for Equity Release?

You might consider Martin Lewis and MoneySavingExpert for equity release because the advice they provide is reviewed by leading journalists and is widely trusted by followers.

Furthermore, MoneySavingExpert claims that financially sophisticated users could save 25% of their income monthly by following its tips and advice.

The site has won multiple awards, which include²:

• Most Useful Website of The Year 2003.
• Bradford & Bingley Personal Finance New Media of the Year (2005).
• 2010 Hitwise Award for best business information website.
• Brand of the Year in 2018 from Drum Online Media Awards.

The accolades and equity release awards speak for themselves and are just some of the many reasons you could consider MoneySavingExpert.

What Does MoneySavingExpert Teach About Equity Release Schemes?

MSE educates readers on the nuances of equity release, including benefits, risks, and how to choose the best scheme for your needs.

What Is an Equity Release Scheme According to MoneySavingExpert?

Homeowners aged 55 or older can opt for an equity release scheme to financially benefit from their property’s value.

It’s a route to access home equity without disposing of the asset.

Equity release’s distinct feature is its ‘no immediate repayment’ structure.

The total amount, with interest, is paid from the house sale, typically post the owner’s death or care admission.

What Is the Best Way to Release Equity According to Martin Lewis?

The most effective way for money-saving experts to release equity is through home equity loans or home equity lines of credit (HELOCs).

These options allow homeowners to tap into their property’s value, converting equity into cash for investment or expense purposes.

Remember to borrow responsibly and understand the terms of the loan, thereby ensuring our financial stability.

Alternatively, consider a reverse mortgage, especially if you’re a senior homeowner.

In this setup, the lender pays you a regular income or a lump sum, allowing you to stay in your home while converting your equity into ready cash.

This strategy can be excellent for achieving financial flexibility, but be sure to consult with a financial advisor first to ensure it fits your long-term plans.

What Is Martin Lewis’s Advice on Equity Release Schemes?

Martin Lewis and MoneySavingExpert.com do not offer individual advice on equity release schemes.

The site does, however, offer information and general advice on equity release and the schemes available.

Martin Lewis’s Advice on the Risks of Equity Release: MoneySavingExpert’s Safety Tips

While equity release offers financial flexibility for older homeowners, MoneySavingExpert advises awareness of the associated risks.

Key concerns include the erosion of the property’s value for inheritance, the accumulation of interest potentially consuming the property’s equity over time, and the impact on means-tested benefits.

MSE recommends thorough planning and consultation with financial advisers to mitigate these risks.

Additionally, MSE advises choosing lenders approved by the Equity Release Council, which guarantees a ‘no negative equity’ policy, ensuring borrowers will never owe more than their home’s value.

How to Qualify and Find Providers for Equity Release: Insights from MSE

MSE outlines eligibility criteria and application steps for equity release, simplifying the process for homeowners.

What Are the Eligibility Criteria for Equity Release According to MoneySavingExpert?

Eligibility for equity release schemes, as outlined by MoneySavingExpert (MSE), primarily depends on the applicant’s age, typically over 55, and the property’s value.

MSE emphasizes that the property should be in good condition and located in the UK.

Certain lenders may have additional criteria, such as a minimum property value, which often starts around £70,000.

MoneySavingExpert advises potential applicants to also consider their plans for inheritance, as equity release can significantly impact the estate’s value left to heirs.

How Can You Apply for Equity Release Through MSE? Steps Explained

Applying for equity release through MoneySavingExpert involves several steps, starting with research and education on the topic through MSE’s comprehensive guides.

MSE recommends using their comparison tools to find the best deals and then suggests consulting with an independent financial adviser who specializes in equity release.

The process further involves choosing a plan that fits your financial needs, completing a property valuation, and going through legal advice to understand the terms and conditions before finalizing the deal.

MSE provides resources and tools at each step to assist consumers in making informed decisions.

MSE’s Information Resources on Equity Release and Lifetime Mortgages

MoneySavingExpert does not offer equity release, as it is not a financial institution.

However, the site reviews equity release and offers advice on releasing equity in its articles and on a dedicated forum.

What is more, the site advises you to speak to an adviser and pick a lender approved by the Equity Release Council.

MoneySavingExpert can give you information that may help you choose the best equity release company for you or a specific equity release product.

How Does MoneySavingExpert’s Loan Advice Relate to Equity Release?

MoneySavingExpert’s loan advice covers a range of borrowing options, including personal loans and secured loans, which may be alternatives to equity release.

For those not ready to unlock equity from their home, exploring lower-interest loans could be a more cost-effective way to access funds.

By comparing loans and understanding their terms, you may find that borrowing through a traditional loan offers more flexibility and fewer long-term consequences than equity release.

It is important to assess these options side-by-side to find the best solution for your financial needs.

Understanding the Financial Aspects of Equity Release: Martin Lewis’s Guidance

MSE provides insights into interest rates, fees, and financial implications of equity release, helping users make informed decisions.

What Are the Current Equity Release Interest Rates? MSE’s Calculator Tools Reviewed

MoneySavingExpert provides updated insights on equity release interest rates, noting that rates can vary significantly depending on the lender and the type of plan chosen.

MSE’s equity release calculator tools offer users a way to estimate the potential costs of releasing equity from their homes, taking into account the compound interest effect over time, thereby enabling homeowners to gauge the financial implications of their decisions.

As of our latest review, interest rates for lifetime mortgages, the most common type of equity release, start from 5.65% to 5.85% AER*.

You can view the most recent equity release rates here.

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

Understanding Equity Release Fees: Insights from MoneySavingExpert

MoneySavingExpert is a free consumer website, and you can sign up for its weekly email with cost-saving tips at no charge.

What Are the Common Complaints About MSE Equity Release?

To lodge a complaint with MoneySavingExpert, you can send your complaint via email to the following email addresses:

• Cheap Energy Club – energyclub@moneysavingexpert.com 
• Credit Club – creditclub@moneysavingexpert.com 
• Other – furtherhelp@moneysavingexpert.com

If you are not satisfied with your complaint’s feedback, you can refer it to the financial ombudsman at enquiries@financial-ombudsman.org.uk 

The Reliability of Equity Release Information Provided by MSE

With comprehensive reviews and case studies, MSE proves its reliability and trustworthiness in offering equity release advice.

How Did We Review MSE Equity Release Information?

We spent many hours researching and unpacking the information on MoneySavingExpert and then presenting them to you in this easy-to-read article.

NOTE: This article is an unaffiliated, third-party, independent review of MoneySavingExpert.com and / or Martin Lewis.

What Do Customer Reviews Say About MSE Equity Release?

Here are some reviews on MoneySavingExpert:

• MoneySavingExpert Reviews on UK.TrustPilot.com
• Review of MoneySavingExpert on ReviewCentre.com
• MoneySavingExpert Reviewed on SmartMoneyPeople.com

How Have Others Benefited? Explore Case Studies of Equity Release with MSE

MoneySavingExpert showcases several case studies where individuals have successfully utilized equity release to enhance their retirement lifestyle, pay off existing debts, or fund major life events.

One highlighted case involves a retired couple who used a lifetime mortgage to renovate their home and support their grandchildren’s education, without the need for monthly repayments.

These real-life examples illustrate the flexibility and potential benefits of equity release, as well as the importance of tailored financial advice to ensure that the decision aligns with personal and financial circumstances.

Join the MoneySavingExpert Equity Release Forum: Share Your Experiences

The MoneySavingExpert forum is a great place to share experiences and gather insights on equity release from people who have been through the process.

Whether you are looking for advice, success stories, or discussions on potential pitfalls, the forum provides a supportive community for those considering equity release.

You can ask questions, share your concerns, and get real-world feedback on how equity release schemes work in practice.

The MSE forum is a potentially valuable resource for anyone seeking additional information beyond what is available from financial advisers or providers.

MSE’s Role in Providing Equity Release Information: An Overview

MSE is regulated and offers clear contact details for equity release queries, ensuring transparency and accessibility for users.

What Are the FCA Details for MoneySavingExpert Equity Release?

The Financial Conduct Authority (FCA) details for MoneySavingExpert’s equity release services would include their FCA registration number and any specific permissions or regulations they adhere to when providing equity release advice or services.

Since MoneySavingExpert (MSE) primarily offers information and guidance rather than direct financial services, their specific role may involve directing users to FCA-regulated lenders or advisors for equity release products.

For precise and up-to-date FCA details, it’s advisable to visit the official MoneySavingExpert website or the Financial Conduct Authority’s online register.

What Trading Names Does MoneySavingExpert Use for Equity Release?

• MoneySavingExpert.com
• MoneySavingExpert.com Limited

Which Regulators Approve MSE for Equity Release?

The Financial Conduct Authority (FCA)³

What Are the Registration Numbers for MSE Equity Release?

• FCA Ref Number: 587302
• Companies House Number: 03157344

How to Find MSE’s Equity Release FCA Link

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

How to Access Reliable Equity Release Information Through MSE

• +44 203 846 2796.  
• furtherhelp@moneysavingexpert.com
• One, Dean Street, London, W1D 3RB.

Common Questions

In Brief: MoneySavingExpert Equity Release

If you are considering sourcing information about equity release and want to do some market research, then MoneySavingExpert’s equity release information is an excellent place to start.

Martin Lewis continues to emphasise the importance of building a solid savings plan before turning to equity release.

He advises homeowners to explore tax-efficient savings options, such as ISAs, to help fund retirement without taking on additional debt through equity release.

MoneySavingExpert.com also runs an equity release discussion forum where consumers can share equity release info and stories.

We always recommend that our readers seek financial advice from an accredited adviser before making any decisions.

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.