Frequently Asked Questions
If you cannot find the answer to your question then please do not hesitate to contact us.
Are equity release products suitable for everybody?
No. There are alternatives that you should consider before you decide on an equity release product. Downsizing to a smaller property, home improvement grants, funds from the family or delaying any decision are a number of options that may be more suitable for your situation. As specialist advisers, Hinton & Wild will discuss all options with you and make the best recommendation for your needs.
Will my benefits be affected?
If you receive income support, pension credit or council tax benefits these may be reduced or even lost, so you have to be careful that you gain enough to make up for any loss.
Should I discuss the product with my family?
Most people will want to do so, but it is a personal matter. We recommend that you involve your family members at an early stage to keep them fully informed of your wishes.
Am I protected if I become ill or die?
You will need to consider your health because, in the event of your early death, you may have received little benefit from the scheme. Some equity release products provide certain protection in these circumstances.
What if I want to move house?
With most equity release products you can move house, but you should check your product ’s details carefully.
Am I being offered all available home plans?
Hinton & Wild provides independent financial advice, which means that we make recommendations from the whole market.
Do I have to use a solicitor recommended by the plan provider?
You should always use the solicitor of your choice rather than one recommended by the plan provider.
What happens to my existing mortgage?
If you currently have an outstanding mortgage this will have to be cleared as part of your new product.
What other costs may be involved?
We will establish all of the costs involved. This will include an arrangement fee payable to Hinton & Wild, a valuation and administration fee payable to your provider and legal fees payable to your solicitor.
If you want more information on equity release, a lifetime mortgage or home reversion plan, please call us on 0800 328 8432 or complete our enquiry form.
Registered office: 31 Goldington Road, Bedford, MK40 3LH.
Hinton & Wild Ltd is authorised and regulated by the Financial Services Authority under FSA No. 438338.
Hinton & Wild Ltd is a member of the Home & Capital Trust Group.
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