For more information call the Saga Equity Release Advice Service on 0800 096 7120. Lines are open 9am to 5pm, Monday to Friday (excluding bank holidays). The Saga Equity Release Advice Service is provided by HUB Financial Solutions Limited.
What costs are involved in equity release?
If you take out a recommended equity release plan, an advice fee of £750 will be payable on completion. If you're a Saga customer who has access to Saga's customer benefits this fee will be waived.
If a specialist report is required by a lender, you will need to cover the cost of this. This type of report is usually only required if the valuer has any concerns about damp, surrounding trees or the structure of the property.
As with all mortgages, you will need a solicitor. If you take out the Saga Equity Release Plan or the Saga Regular Drawdown Lifetime Mortgage, provided by Just, you will receive £425 towards the cost of your legal fees. You will be responsible for covering any costs over and above the £425.
Set-up and valuation fees
These will vary according to the provider and type of product you choose. With a lifetime mortgage, you can add some of the fees to your loan.
Who are the providers?
The Saga Equity Release Advice Service
Taking out equity release is a big decision but the pay-off could be life-changing. We can’t stress enough the importance of considering all the facts and getting specialist, no-obligation advice from a source you can trust. That’s why we’ve chosen HUB Financial Solutions Limited to provide the Saga Equity Release Advice Service. They will pay us an introductory fee if you do decide to take out a product.
HUB Financial Solutions Limited
Our chosen provider for the Saga Equity Release Advice Service is HUB Financial Solutions Limited, a business committed to finding the right financial solution for people approaching, or in, retirement. The Saga Equity Release Advice Service offers a free no-obligation consultation. HUB Financial Solutions Limited, part of Just Group plc, is authorised and regulated by the Financial Conduct Authority.
Just is a trading name of Just Retirement Money Limited. Just has developed two equity release products exclusively for Saga Equity Release Advice Service customers: the Saga Equity Release Plan and the Saga Regular Drawdown Lifetime Mortgage. If one of these products is recommended to you through the Saga Equity Release Advice Service and you decide to proceed, you’ll get £425 paid towards your legal fees and you won’t pay any set-up costs or valuation fees. Just Retirement Money Limited, part of Just Group plc, is authorised and regulated by the Financial Conduct Authority.
Saga Personal Finance
We’ve been serving the personal finance needs of the over 50s for more than 20 years, in which time we’ve developed a range of products to help you make the most of your money. Saga Personal Finance is a registered trading name of Saga Personal Finance Limited, which is registered in England and Wales (Company No. 3023493). Registered office: Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE. Saga Personal Finance Limited is authorised and regulated by the Financial Conduct Authority.