Equity Release Club Review in 2024

Will Premier Equity Release Club Be Able to Help You Release Equity From Your Home? Discover What It Does and Whether It Can Help You. Here Is Everything You Need to Know…
  • Last Updated: 05 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 Takeaways

  • Joining an equity release Club can provide potential benefits such as access to exclusive offers, potential for higher loan amounts and the opportunity to share experiences with like-minded individuals.
  • To join, you generally need to apply through the club's website or contact them directly, ensuring you meet any specified age and property value requirements.
  • Risks may include potential high fees, the potential for negative equity if the value of your property decreases, and the impact on your ability to pass property onto your heirs.
  • There could be fees involved, which might include arrangement fees, advice fees, valuation fees, and possibly early repayment charges.
  • Deciding if its the right choice for you depends on your individual circumstances, such as your age, property value, financial goals, and the need for flexibility or certainty.

Once you have decided to look into equity release and learned more about it, you may then have a follow-up question about which is the best equity release company in the UK?

With so many unscrupulous lenders out there, it is essential that you do your research to avoid dealing with a provider who is inconsistent with today's rigorous standards.

This is a great place to start looking for sources of information on equity release.

We have reviewed the information on Premier Equity Release Club to give you all the details on what it offers.

In This Article, You Will Discover:

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

    Who Is Premier Equity Release Club?

    Premier Equity Release Club prides itself on being an independent club.

    It consists of financial advisors and solicitors who use the platform to source products and services from the equity release market as a whole.

    The website contains a wealth of information on equity release and third-party service providers such as solicitors who specialise in equity release.

    What Is Equity Release Mortgage In The UK?

    Equity release allows seniors over 55 to unlock the value in their homes as cash.

    This method offers a way to use your property's equity, eliminating the need for selling.

    Its unique repayment feature is delayed until the home's sale, often after the homeowner moves into care or passes away, providing financial flexibility.

    Learn More: UK Equity Release Mortgage

    Why You Could Consider Premier Equity Release Club

    You could consider Premier Equity Release Club if you are looking for an expert advisor who is qualified in equity release to assist you through the process.

    Do note, however, that the information on this site is meant only for intermediaries and not for members of the public.

    The advisers who are members of the Premier Equity Release Club are specialists in their field and are able to utilise the platform to source products from all over the market.

    This means that the advisers are independent and can source the best equity release deal for you from a multitude of lenders who often provide them with preferred offers.

    They also have access to solicitors who service the club's advisers so that they can assist you with the legal aspect of the equity release process.

    By using an adviser that is an expert and a solicitor specialising in equity release, you can speed up your equity release application significantly.

    What Services Does Premier Equity Release Club Offer?

    The service Premier Equity Release Club offers is a platform for all its member advisers to access products and find solicitors.

    The aim of the club is to mentor it's member advisers to assist them in the equity release sector.

    As a platform for advisers, it provides access to the following services for free:

    • Assistance from a helpdesk manned by trained equity release experts.
    • Registration pack with both solicitors' and lenders' details.
    • Access to the club.
    • Fees from lenders are paid directly to the advisers.

    Does Premier Equity Release Club Offer Equity Release or Lifetime Mortgages?

    No, Premier Equity Release Club does not offer equity release itself but assists advisors in sourcing equity release plans.

    By using Premier Equity Release Club you will benefit from independent advice and have a broad range of products to choose from.

    Premier Equity Release Club’s Equity Release Scheme Advice

    Premier Equity Release Club’s equity release schemes advice is varied, as it's advisors source products from a host of later-life lenders.

    Some of the top companies it is affiliated with:

    • Aviva
    • Canada Life
    • Hodge
    • Just Retirement
    • Crown Equity Release
    • Legal and General Home Finance
    • LV= (Liverpool Victoria)
    • One Family
    • Pure Retirement
    • Standard Life Home Finance

    These are all reputable, well-known equity release lenders that offer exceptional schemes.

    Premier Equity Release Club’s Equity Release Provider Scheme Features

    Premier Equity Release Clubs' equity release provider scheme features will depend on the provider you choose, along with the assistance of one of its member advisers.

    The providers it uses are primarily members of the Equity Release Council, so certain scheme features are expected.1

    In general, if we look at lifetime mortgages, the following features are standard:

    • You will receive a no-negative equity guarantee.
    • Inheritance protection should be an available option.
    • Early repayment charges will decrease over five years, after which they fall away.
    • You will be able to release between 20% - 60% of the worth of your home's market value.
    • The plans are normally available to homeowners in the UK who are aged over 55.

    What Are Premier Equity Release Club’s Equity Release Provider Interest Rates?

    The interest rates from Premier Equity Release Club Providers will also all depend on which you end up using.

    Generally, interest rates for equity release currently range from 5.20% to 6.30% AER*.

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

    What Are Premier Equity Release Club’s Fees?

    Premier Equity Release Club do not charge it's members any fees.

    The fees on equity release arranged by one of the member advisers will depend on the provider they recommend.

    Equity release fees normally range from £1,500 to £3,000.

    Does Premier Equity Release Club Have An Equity Release Calculator?

    No, Premier Equity Release Club does not have an equity release calculator available to the public; however, it does have a calculator for advisers.

    If you need a reliable equity release calculator, you can use ours here for an approximation:

    What Are The Advantages and Disadvantages of Premier Equity Release Club?

    There are both advantages and disadvantages to using Premier Equity Release Club, such as the fact that it is a club for advisers, so you will receive independent advice, but it is not a direct lender.

    More information:

    Premier Equity Release Club Pros

    The pros of Premier Equity Release Club include the fact that it provides independent advice.

    More pros:

    • Club advisers are equity release specialists, which means you will get the best results.
    • The advisers have access to club solicitors who are also equity release specialists, which can significantly speed up your application process.
    • You get access to the whole of market products from leading lenders.
    • Advisers must be qualified and continuously train through the club's programs.

    Premier Equity Release Club Cons

    The cons of Premier Equity Release include that you can only access it's service via one of it's member advisers.

    More cons:

    • Premier Equity Release Club is a club for financial advisers and not for members of the public.
    • If you prefer a product from a different lender to the ones Premier Equity Release Club’s advisers use, it may be challenging to do so.
    • You must use one of the member advisers if you want to go through Premier Equity Release Club.
    • Equity Release will impact the amount of inheritance you can leave.

    How Did We Review the Information on Premier Equity Release Club?

    We compiled this guide on Premier Equity Release Club by gathering all the relevant facts from the market and adding this to our independent hub of information for you, the reader, to access.

    Premier Equity Release Club Customer Reviews

    Here are customer reviews of Premier Equity Release Club for you to review.

    • Premier Equity Release Club reviews from Trustpilot.

    Premier Equity Release Club Complaints

    As Premier Equity Release Club is not a financial provider, if you have a complaint about one of it's members, be it a solicitor or an adviser, you will need to address your complaint to them directly.

    Premier Equity Release Club FCA Details

    Premier Equity Release Club is not a registered financial provider, so it does not fall under the FCA’s regulation.

    Find it's website here:

    Premier Equity Release Club

    Registration Number

    Companies House Number:  09960866

    Companies House Link

    Companies House Link: Companies House Link

    Premier Equity Release Club Contact Number and Address

    • +44 121 296 9987
    • helpdesk@thepremierequityreleaseclub.co.uk
    • 96, Burman Road, Shirley, Solihull, B90 2BQ.

    Common Questions

    What Are the Benefits of Joining an Equity Release Club?

    How Can I Join an Equity Release Club?

    What Are the Risks of an Equity Release Club?

    Are There Any Fees Involved With an Equity Release Club?

    Is an Equity Release Club the Right Choice for Me?

    Is Premier Equity Release Club a Member of the Equity Release Council?

    Who Owns Premier Equity Release Club?

    How Can I Find Premier Equity Release Club Jobs?

    Does Premier Equity Release Club Offer Equity Release?

    Are Premier Equity Release Club's Equity Release Providers Safe?

    In Conclusion

    If you are a retiree looking for an equity release plan, you will need an experienced financial adviser to assist you.

    Choosing an adviser who is a member of Premier Equity Release Club may be a good idea, as they will be able to offer you top providers' products.

    They also have access to experienced solicitors, a fact that could speed up the equity release process.

    We always recommend you seek financial advice 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.

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