0 A Good Equity Release Adviser Explores all the Options By The Bower Team / In Equity Release When you reach retirement it is natural to start to think about how you can make your life more financially secure. Many people these days are relying on their property to provide for them in retirement and so UK equity release schemes are a well researched retirement funding initiative. Equity release — as a lifetime mortgage or home reversion plan — allows for a tax free cash lump sum or cash reserve to be arranged using the equity in the home. The plans are available to those aged over 55 years of age and who own their own homes. Is Equity Release Right for You? However, it is important to realise that equity release is not always the right course of action to take and that there are alternatives that should be explored. So how can you be sure which course of action is right for you? The only way is to speak to a top class, award winning equity release adviser who follows ethical guidelines and who is more than happy to suggest alternatives to equity release if they happen to be the right course of action to take in your specific circumstances. The Alternatives to Equity Release Must be Discussed An experienced and ethical equity release adviser will discuss with you a range of options and take into consideration your individual situation. In some cases it may make more financial sense to move to a smaller property or apply for a traditional mortgage. In other cases it may be possible for you to claim grants or benefits. Do not assume that an equity release adviser will automatically try to sell you an equity release plan. The good ones follow very strict professional codes and always have your best interests at heart. Equity release may well be the answer to your issue but sometimes it will not be and so you need to speak to an adviser who will suggest the right course of action for you. Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration. Bower is an FCA regulated independent financial advice company that offers specialist advice on equity release throughout the UK. For more information email [email protected] or call 0800 4118668.