Equity release during lockdown is easier than you think

Tuesday, 19th May, 2020
Equity release during lockdown

Without wanting to labour the virtual mortgage broker point that we’ve made in recent articles (to summarise, it’s that we’re continuing business as usual by conducting mortgage consultations via video), we thought it might be worth highlighting that getting an equity release mortgage during lockdown is very easy.

Although equity release mortgages can be slightly more complex than standard mortgages – and whilst there is arguably more to consider when it comes to releasing equity from your property – the mortgage application process is broadly the same.

However, as a Guildford mortgage broker that has arranged countless equity release mortgages for its clients over recent years, Complete Mortgages can guide you through the process and discuss with you the pros and cons of equity release.

But before we get to that stage, let’s address some of the basic equity release questions that we’re currently being asked.

Is now a good time to apply for an equity release mortgage?

There is a raft of great mortgage deals available right now – and the recent interest rate cut has contributed to this. However, the answer to this question is less about COVID-19 and more about your personal circumstances. In terms of applying for an equity release mortgage – and us processing it – then there really is no difference between now and pre-COVID-19; we’re still offering the same service (albeit remotely).

The real point to consider is whether or not now is the right time for you. This is a point that a Complete Mortgages equity release mortgage broker can help you establish during a video mortgage consultation, which you can arrange by calling 01483 238280.

Is it better to wait until everything’s back to normal – or is remote mortgage advice okay?

In an ideal world, meeting face-to-face to discuss equity release would be the preferable option. Sadly, we’re not living in an ideal world right now. Not only that, but we have no idea when we’ll return to a world that resembles life pre-Coronavirus.  So, that takes us back to the previous question. If you’d rather meet face-to-face and there’s no pressure to arrange equity release, then maybe wait to see what happens. If not, then through our video mortgage broker service we can progress it immediately.

What about the equity release paperwork?

This isn’t a problem, either. We’ve recently started using Eversign, so that ALL documentation can be safely and securely signed from your home. You can read more about it here.

Regardless of the type of mortgage you’re looking to apply for, Complete Mortgages can handle all applications via a combination of video and digital documentation technology. ‘Is equity release right for me?’ is the question you need to start with – and if you still can’t answer it, then pick up the phone and let us help you decide through our award-winning, impartial mortgage advice.

Don’t let COVID-19 put your life on hold. For equity release mortgage advice contact us on 01483 238280 or email info@complete-mortgages.co.uk.

By Mark Finnegan at Complete Mortgages