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Equity release

Duration:
30 minutes
First broadcast:
Wednesday 18 June 2014

Could Equity Release help fund your retirement? To find out how it works, what it costs and ask about the pros and cons call 03700 100 444 between 1pm and 3.30pm on Wednesday or e-mail moneybox@bbc.co.uk now.

Over £1bn worth of property wealth was released in 2013 by older people seeking to boost their retirement funds. Most people need the money to meet everyday living costs, make home improvements or book a holiday say the Equity Release Council.

If you'd like to learn about the types of scheme on offer or weigh up the set-up costs, such as legal and financial advice, call the programme on Wednesday.

What standards should you expect from firms that sell equity release and what qualifications should advisors hold?

How much can you borrow and is it best to take a lump sum or regular payments?

When will the loan be repaid and what is the interest rate?

Will your tax bill and benefit entitlement be affected?

To answer your questions, presenter Ruth Alexander will be joined by:

Tom Moloney, Financial Advice Manager, StepChange Debt Charity.
Georgina Smith, Managing Director, Equity Release provider Stonehaven.
Nigel Waterson, Chairman, Equity Release Council.

Call 03700 100 444 between 1pm and 3.30pm on Wednesday or email moneybox@bbc.co.uk. Standard geographic charges apply. Calls from mobiles may e higher.

Presenter: Ruth Alexander
Producer: Diane Richardson.

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