Equity release is a long-term commitment, and you are entitled to understand it fully before you decide. Here are ten questions to ask an equity release adviser, and what you should expect to receive in reply. Bring them to any firm — including us.
In short: ten questions to ask before you take out a lifetime mortgage, and what you should expect in reply. Print them and bring them to any firm — ours included.
- 1Do you assess a comprehensive range of plans, or a restricted panel — and will you put that in writing?Expect this stated plainly, and set out in the disclosure document you are given.
- 2How exactly are you paid — fees, commission, or both — and how much, in pounds?Expect the advice fee in pounds. Commission is a percentage set by the lender, so ask what it comes to on the plan recommended to you — and expect that in pounds too, in writing.
- 3Will you show me the projected balance at 10 and 20 years at my rate, in writing?Expect both figures on paper, at the rate being offered to you.
- 4What would make you advise me not to do this?Expect real examples: a small sum you could cover another way, a means-tested benefit at risk, or a plan to move within a few years.
- 5Which alternatives did you consider for me, and why did you rule them out?Expect them named — downsizing, savings, a retirement interest-only mortgage, help from family — with the reason each was set aside in your circumstances.
- 6What are the early repayment charges, exactly, and when do they fall away?Expect to be told how the charge is worked out, whether it is fixed or moves with gilt yields, and the year it stops.
- 7Does this plan meet all of the Equity Release Council’s product standards?Expect a yes, with the standards listed: the no-negative-equity guarantee, the right to remain in your home, the right to move, penalty-free partial repayments, and independent legal advice.
- 8What happens if I need long-term care, or my partner does?Expect a clear explanation of what happens to the plan if one of you moves into care, and if both of you do.
- 9Can my family attend every meeting and receive copies of everything?Expect yes, with copies sent to them as a matter of course.
- 10If I decide not to go ahead, what do I owe you, and will you contact me again?Expect to owe nothing, and no further contact unless you ask for it.
These are all reasonable things to ask, and you are entitled to clear answers in writing. Take as long as you need over the decision, involve whoever you would like, and ask again about anything that is not clear. There is no hurry, and you can stop at any point.
Take these ten with you
Risk warning. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A lifetime mortgage is a loan secured against your home. To understand the features and risks, ask for a personalised illustration.
Bring these ten to us. Your first conversation costs nothing, and you are under no obligation. Speak to an adviser.
Frequently asked questions
What questions should I ask an equity release adviser?
Ask how they are paid, in pounds; whether they assess a comprehensive range of plans or a restricted panel; what would make them advise against equity release; which alternatives they considered; the early repayment charges; whether the plan meets all Equity Release Council standards; what happens if you or your partner needs long-term care; whether your family can be involved and receive copies; and what you owe if you decide not to go ahead. You should expect clear answers to all of these, in writing.
Is it rude to ask an adviser how much they are paid?
No. Advisers expect the question. How an adviser is paid is something you are entitled to know — fees, commission, or both, and in pounds.
How accurate is an equity release calculator?
A calculator gives an indication based on a few details, such as your age and your home’s value. It is a useful starting point, not a formal offer. Only a personalised illustration, prepared with advice, shows what is really available to you and what it would cost over time.
Related reading
- How equity release works
- The old products and the modern one
- What the latest house-price figures mean
This page was last reviewed and dated 9 September 2026. We review it periodically to keep the detail current.
Retirement Solutions (UK) Limited is authorised and regulated by the Financial Conduct Authority (FRN 483817). Registered in England and Wales, company number 06437737. Registered office: Metropolitan House, Station Road, Cheadle Hulme, Cheshire SK8 7AZ.
