An equity release mortgage is as it says is a mortgage on your home. There are various companies that offer this type of product and some are very well known household insurance companies such as Aviva and others whilst very good companies in this market place are not so well known, such as Hodge Lifetime.
Because some of the equity release companies are not so well known it is imperative that you shop around and get an idea of the terms and conditions of each of the lenders, find out their interest rates and charges.
The best way to shop around for your equity release mortgage is generally by enlisting the help of a specialist equity release intermediary. The intermediary will in most cases be an independent financial adviser (IFA) and will have access to products that the general public may not have access to. The IFA will conduct a fact find to establish your needs, only then will he or she be able to do proper research on all the products in the market.
Once the research has been done the IFA should produce a report recommending the provider he or she feels is the best equity release mortgage suited to your needs that were identified in the fact find.