nigel woollsey

Nigel Woollsey

Online Writer
Published: 29/01/2020

How do we decide which equity release products get the best rating?

For over 30 years, Moneyfacts has been helping people to find the best financial products. Every year our in-house money experts cast their eye over all the equity release products available to the UK market, using their in-depth knowledge to determine those that truly represent the best solutions.

Our impartial equity release ratings look at the most important features, charges and benefits of each product. For equity release, we evaluate over 35 individual elements to determine which products stand out from the rest of the pack.

Below, we’ve detailed which elements we look for when it comes to our whole of market assessment for equity release products.

How does a star rating help me find the best equity release product?

Even for financially experienced and astute customers, the range and depth of equity release products on the market can seem intimidating. Our simple star rating system allows customers to benefit from our expert knowledge and understanding – making it easy to determine which products have the best features, charges and benefits. Consumers can feel confident that the products that attain a Four or Five Star Moneyfacts Rating offer the most comprehensive range of standout features.

Which elements of the equity release product do we look at?

A considerable number of features are considered for the final rating. These include:

Flexibility
• Minimum and maximum ages
• Minimum and maximum loan-to-values
• Minimum and maximum advances
• Lump sum options
• Drawdown options
• Regular income facility
• Interest roll-up options
• Portability
• Ability to service debt
• Partial payments


Features
• Rate type
• Interest charging frequency
• Equity Release Council membership
• Negative equity guarantees
• Early repayment charges
• Valuation/survey fees
• Cashback
• Legal fees
• Downsizing protection.

Equity release - Five stars

To be announced

Equity release - Four star

To be announced

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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