About - What is the typical process

We hope this website can assist you in making a very important decision, which affects not only yourself but also your beneficiaries. Therefore, we have put together the following flowchart to explain the typical equity release process from beginning to end...

Peruse our website to look at your options & whether equity release is suitable for you
An Equity Release Supermarket adviser will guide you towards the right type of scheme based on your requirements
A personalised Key Facts Illustration is produced by the adviser to indicate the amount borrowed & costs involved
We then would encourage you to have discussions with your family
If satisfied, we will prepare our financial planning report & prepare the paperwork.
Your adviser will guide through completion of the application form & submit it to the lender on your behalf.
We will then instruct your solicitor & the valuation will be arranged by the lender
Upon successful valuation, an offer is made & your solictor will then start completing the legal paperwork
Your solicitor will then set a completion date & arrange for the equity release funds to be transferred to you

 

How We Handle Your Equity Release Application Process

The whole equity release application process can take between 6-8 weeks for any lifetime mortgage schemes, but maybe over 8 weeks for a home reversion. There are a number of factors that will affect the timescales of any application for releasing equity.

 

In conjunction with any lifetime mortgage or home reversion application, documentation will be required in support of it. Dependent upon which lender, there will be mandatory documents required such as identification, proof of buildings insurance and valuation fee, if relevant.

 

Proof of ID that meets the governments money laundering regulations is essential, as no application can be submitted without. This would include issue of your passport, driving licence and/or state benefits letter. In addition to this, proof of residence would also be required which can be evidenced by a utility bill or bank statement. Your equity release adviser can detail exactly what is required upon completion of the each equity release lender application.

 

Once submitted, it would the experience of the solicitor acting on your behalf and the legal work affecting your property, that would shape the timescales. If you do not have access to a solicitor who conducts equity release business, then Equity Release Supermarket can provide specific contacts to specialists in this field.

 

Using a equity release solicitor who is a member of ERSA (Equity Release Solicitors Alliance) could help speed up matters. If you wish to take advantage of their expertise, you can find the membership list for ERSA here.

 

Post Sale Information

Equity Release Supermarket realise that once a decision has been made, then the quickest route to fruition and release of funds is essential. To effect this transition, we ensure that each step of the equity release process is managed appropriately.

 

Upon submitting your application, through to the completion and release of equity funds, we keep you updated electronically via our back office systems and specialist administration team. Having online access to case management sytems at certain 'ERSA' solicitors means we can identify early, any issues that may arise in processing your equity release application.

 

To find your local equity release adviser in order to discuss a potential lifetime mortgage or home reversion application, call us today and discover...

 

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testimonials

"Equity release can be a minefield according to reports I have read, but at no time when dealing with Chris Chance did I feel that I was being led towards what he wanted to do, and that I was free to make my own decison." – Mr B, Louth


"Entering into a contract as such needs confidence in those processing it. I never at any time felt a lack of confidence." Mrs R, Leeds


"All questions answered professionally and courteously. Always available to contact, or if not, always a prompt ringback." Mr S, Reading


"Your adviser was friendly, supportive and gave us good advice. The whole process has been extremely well managed. Thank you." Mr M, Great Yarmouth 


 




"Hi Ian. My equity release plan has now completed & I am pleased to tell you that I am collecting my new car on Friday. I wanted to thank you for making everything so easy for me & I will certainly recommend you to anyone who is interested in an equity release plan." - Mrs B, Carnoustie

"From initial contact with the Equity Release Supermarket team, to completion was speedy, courteous & totally stress free!" - Mr & Mrs M, Bembridge

"Our objectives were achieved with minimal delay in a most friendly, knowledge & expert manner" - Mr & Mrs D, Newcastle

"Our Just Retirement equity release case was dealt with quickly & efficiently by Anthony. He was always just only a phone call away & always replied to any questions we had straight away.
We contacted four equity release companies in total, but your company with Anthony stood out. This has been a very important decision for us but we are so glad we did it because it has changed out lives & we can now enjoy our retirement ...debt free!" - Mr & Mrs S, Invergordon.

"Very satisfied. Simple, quick and efficient service and lovely staff." Mr M, Surrey

"Lynsey, Many thanks for your all your help; we completed or equity release application yesterday and funds have been credited to our account." – Mrs A, Nottingham


"I tried Saga and Aviva but I preferred your helpful attitude, in a situation which is fairly tricky" – Mrs R, Devon


"The service provided was excellent and I would be more than happy to recommend Equity Release Supermarket to anyone considering equity release" - Mr & Mrs S, Waterlooville
"Always a traumatic time to find yourself on your own having lost your partner of many years. Feeling quite fit and healthy but strapped for cash. I was reluctant to downsize and move away from supportive friends and neighbours. So you need reassurance and advice and this is what I got from Equity Release Supermarket. A personal home visit and a clear explanation of what was best for me. It was good to have Mark come to my house to explain face to face the options and understand what I needed" - Mrs H, Hartlebury
"Having spent my career in banking retiring as a manager, I did not come to the transaction without knowledge. I felt Les Pick, your equity release adviser, tailored his advice accordingly and could have been more expansive if necessary. He was never patronizing" - Mr & Mrs S, Leigh on Sea

"From start to finish my equity release application took only a few weeks; Alison could not have been more helpful and all our questions were answered in a friendly but professional manner" – Mr & Mrs R, Southampton
"We wanted to release some of the equity from our house; we spoke to Mark Gregory who took care of all aspects of the process, explaining every detail as we went through the paperwork. We would have no hesitation in recommending Mark Gregory and Equity Release Supermarket to anyone" - Frank & Janet Hardie. Bury


"Equity Release Supermarket were very efficient, kept us in the loop, couldn't have done it without your help" - Mrs Q. Renfrewshire