Have you wondered if Equity Release Supermarket could help you find your ideal equity release plan?

Equity Release Supermarket is an independent UK-based advisory service that provides regulated guidance on equity release products for homeowners aged 50 and over.

Acting as a whole-of-market broker rather than a lender, Equity Release Supermarket works with all major providers to help clients explore tailored solutions, supported by FCA-authorised advisers and resources approved by the Equity Release Council.

Let's see how this platform may be able to help you.

NB: TimeBank is an independent third-party data provider, and the information shared here reflects their views alone, not necessarily those of Equity Release Supermarket. This article is for informational purposes only and should not be considered financial advice or a recommendation to engage with any products offered by Equity Release Supermarket.

Who Are Equity Release Supermarket?

Equity Release Supermarket is an independent UK-based equity release advisory service founded in 2008 by Mark Gregory.¹

The firm offers FCA-regulated advice on equity release products, and all its advisors are members of the Equity Release Council (ERC).²

Equity Release Supermarket is not a lender but a whole-of-market broker, meaning it works with all major providers to help clients find the most suitable equity release solution for their needs.

It is a member of the Equity Release Council, ensuring that all products recommended adhere to strict consumer protection standards, including the No Negative Equity guarantee.³

Does Equity Release Supermarket Provide Equity Release Information?

Yes, Equity Release Supermarket provides equity release information through a wide range of online resources, guides, tools, and videos designed to help consumers understand how equity release works.⁴

Their website offers detailed explanations of lifetime mortgages, home reversion plans, interest rates, and eligibility criteria.⁵

In addition, the platform features real-life case studies, glossary terms, and downloadable brochures.⁶

These resources are freely accessible and aim to educate prospective clients before they speak with an adviser, supporting informed decision-making at every stage of the process.

What Does Equity Release Supermarket Say About Equity Release?

Equity Release Supermarket says equity release can be a solution for homeowners aged 50 and over who want to access cash from their property.

They also point out that it is a 'big financial decision'.⁷

The company also emphasises the safeguards and protections that are meant to protect equity release borrowers, and they discuss alternative products and the best providers.⁸

According to Equity Release Supermarket, What Are the Benefits of Equity Release?

According to Equity Release Supermarket, the benefits of equity release encompass four main points.⁹

These are:

• Freedom: You can use your equity release funds in a number of different ways depending on your needs.
• Flexibility: You can release money in one big go or in smaller sums, and you can make partial capital repayments to reduce the total size of your loan.
• No Downsizing: Taking out equity release will remove any need to sell your home and move to a smaller property.
• Protection: All plans recommended by Equity Release Supermarket come with a No Negative Equity guarantee, which means your family won't be held liable for any shortfall should your home eventually sell for less than you owe on your equity release loan.

As always, it's important to weigh the benefits against the potential downsides.

According to Equity Release Supermarket, What Are the Drawbacks to Equity Release?

According to Equity Release Supermarket, the drawbacks to equity release encompass three main issues.¹⁰

These are:

• Compound Interest: If you choose not to make interest repayments, your interest will compound (or roll up) during the term of your loan. This will increase the size of your debt significantly.
• Early Repayment Charges: Repaying your loan early (i.e. before you move into long-term care or reach the end of your life) can incur severe Early Repayment Charges.
• Reduced Inheritance: As equity release allows you to borrow against the value of your home, doing so will reduce the size of your estate (and, therefore, the inheritance you can leave to your heirs).

These are the downsides noted on the Equity Release Supermarket site.

Other potential risks to take note of include:

• Impact on Means-Tested Benefits: Receiving a lump sum may affect eligibility for certain state benefits.
• Property Value Fluctuations: If house prices fall, the remaining equity in your home may be lower than expected.
• Long-Term Commitment: Equity release is a lifelong financial decision that may not suit everyone’s future needs.
• Legal and Advisory Costs: Professional advice and legal fees add to the overall expense of taking out an equity release plan.

Your equity release advisor will take you through all these risks and discuss how they may affect you.

What Does Equity Release Supermarket Say About Equity Release Costs?

When it comes to equity release costs, Equity Release Supermarket lists the fees you may need to pay.¹¹

These include:

• advice fees
• application fee
• valuation fee (though this is often waived)
• solicitor’s fees

Does Equity Release Supermarket Discuss Equity Release Alternatives?

Yes, Equity Release Supermarket discusses equity release alternatives in a brief article.¹²

Alternatives mentioned include:

• Renting Out a Room: If you have a spare room you don't need, letting it out could generate some income. Under the government's Rent a Room Scheme, you can earn up to £7,500 every year by letting a furnished room in your home without having to pay tax.¹³
• Moving to a Smaller Home: Downsizing to a more modest property can help manage maintenance bills. Equity Release Supermarket warns, however, that there are significant costs to consider when moving house.
• Adjusting Your Budget: The site mentions using comparison sites to cut down on utility bills and installing a water meter as popular budgeting measures.
• Using Your Savings: If you have any money put aside, accessing it may help you live more comfortably in retirement.

The site also briefly mentions taking out a loan, asking friends or family for assistance, getting a retirement mortgage, finding a part-time job, accessing Local Authority grants, and making sure you're receiving all the state benefits you are entitled to.

Does Equity Release Supermarket Have an Equity Release Calculator?

Yes, Equity Release Supermarket has an equity release calculator.¹⁴

You could also use our free equity release calculator if you'd like to get an estimate of how much you may be able to borrow through equity release.

Why Should You Consider Using Equity Release Supermarket for Equity Release Advice?

You may consider using Equity Release Supermarket for equity release advice based on their experience and reputation.

Pros to consider:

• Their smartER™ tool allows you to compare a wide range of plans without having to submit to credit checks.¹⁵
• The company currently has a 5/5 aggregate Feefo rating (from over 100 reviews).¹⁶
• They are independent and recommend plans from all providers in the market.¹⁷

Contact Equity Release Supermarket

You can contact Equity Release Supermarket in a few different ways.

These include:

• phoning them on 0800 088 5930
• emailing them at admin@equityreleasesupermarket.com
• filling in the contact form on their site¹⁸
• speaking to an agent through the site's live chat feature¹⁹
• finding your local advisor by entering your postcode²⁰
• contacting them by post: 304 Bridgewater Place, Birchwood Park, Birchwood, Warrington, Cheshire WA3 6XG

Common Questions

Conclusion

Equity release is a significant financial decision that requires careful consideration of both its advantages and potential drawbacks.

With tools like online calculators, access to independent advisers, and detailed educational resources, Equity Release Supermarket helps potential borrowers make more informed choices about whether equity release is the right option for them.

By offering whole-of-market comparisons and guidance backed by Equity Release Council standards, Equity Release Supermarket aims to support individuals through every stage of the process, ensuring transparency, flexibility, and protection.

These are key reasons many choose to explore equity release options through Equity Release Supermarket.