Choosing equity release is a big commitment, and you’ll need all the information you can get to make sure you make the right choice. We’re here to help with Saga Equity Release, an advice service provided by HUB Financial Solutions Limited. It's designed to help you come to the right decision for you.
There may be further criteria and differences between providers that may affect your eligibility for equity release.
Saga Equity Release is an excellent resource whether you’re reading about equity release for the first time, have used our free calculator to see how much you could release and want to know a bit more, or are keen to explore product options. If you’re just starting to think about equity release, or you’re at the point of making a decision, you’ve certainly come to the right place.
The Saga Equity Release team will make sure you take all the time you need and help you work out what’s right for you. You won’t be put under pressure, and there’s no obligation to proceed with equity release when you get advice. A lifetime mortgage is a loan secured against your home. It will reduce the amount of inheritance you leave and may affect your tax position.
Saga Equity Release have helped thousands of people decide if equity release will help them meet their financial goals. From first contact to completing the process, Saga Equity Release will share their expert knowledge and support you all the way.
When you phone the Saga Equity Release team for the first time, they’ll answer any initial questions, check you meet the minimum eligibility criteria and will arrange to have a copy of our guide sent to you.
You can ask for a follow-up call when you’ve had a chance to think about things, or you can arrange an appointment with a specialist equity release adviser at a time to suit you.
The aim of this initial chat is to identify your goals, your current situation, and whether equity release could be a suitable solution for you.
Your adviser will make sure you understand equity release and how it will reduce the value of your estate and if, following this meeting, your adviser finds equity release isn’t right for you, they’ll explain why.
You’re welcome to have a friend or family member with you during these discussions with Saga Equity Release, as it’s often easier to take things in and work things through if you aren’t on your own.
If your adviser thinks that equity release is a good option for you, and you’d like to know more to help you decide whether to proceed, they’ll put together a financial assessment for you, including a state benefits check, along with their recommendation.
You’re not committing to anything at this point, but you’ll have a very firm idea of what will happen if you do want to go ahead.
When you’ve had chance to go through the financial assessment, your Saga Equity Release adviser will contact you to arrange another appointment.
At your second appointment, your Saga Equity Release adviser will discuss the results of your state benefits check and talk you through their recommendation. The product available, the Saga Lifetime Mortgage is provided by Just. A lifetime mortgage is a loan secured against your home.
The Saga Lifetime Mortgage comes with a range of flexible options, exclusive features and can be tailored to meet your individual circumstances. If you’re happy to proceed at this stage, your adviser can help you complete the paperwork. You'll need to pay an advice fee of £799.
Following a valuation of your property, the offer documents will be issued to you. You’ll need a solicitor to complete the paperwork, like you would with a traditional mortgage. Your Saga Equity Release adviser can recommend a suitable solicitor if you don’t have your own.
With the Saga Lifetime Mortgage, you can choose to borrow the maximum amount of equity available as a one-off lump sum, or as a smaller amount initially followed by additional amounts at later dates from a pre-agreed limit. It comes with these extras:
Saga Service Promise: Saga Equity Release aim to release your money to your solicitor's account within 40 working days of your application being received and accepted by Just. If this doesn't happen, you'll receive £100. This promise will not apply if you’re using the Saga Lifetime Mortgage to purchase a new property, rather than re-mortgaging an existing one. For the full details and eligibility criteria, see our terms and conditions page.
Money Back Guarantee: If you no longer need the money, you can pay back what you borrow within six months of the completion date of your initial advance. You won’t need to pay any interest or any early repayment charges – you just pay the money back and walk away. To be eligible for this guarantee your initial advance must not exceed £150,000. There are other eligibility terms that you need to be aware of and you can find all of these on our terms and conditions page.
To make sure equity release is right for you, the following questions can help you decide if any alternative ways to raise cash can meet your needs:
It’s also important to think about what impact equity release may have on your finances or your future plans. You may want to consider:
Please refer to our Important information to find out more about the service and fees.
Chat to an expert and find out if equity release is right for you. Or request a callback at a time that suits you.
Mon-Thu 9am - 6pm
Fri 9am - 5:30pm
Sat Closed
Sun Closed
Excluding bank holidays
You could release tax-free money to pay for work on your property.
From set-up fees to interest rates, we look at the cost of equity release.
