Equity Release Supermarket review 2022

Updated June 2022.

This Equity Release Supermarket review is one in a series featuring some of the country’s top equity release companies. They are intended to give you a useful summary of what the main providers and services offer, so you can make a more informed decision.

Who owns Equity Release Supermarket?

equity release supermarket Mark Gregory set up Equity Release Supermarket in 2008, offering independent advice on later life financial solutions from the whole of the market. With a team of equity release advisers based across the country, the company has quickly become a well-known name, advising on lifetime mortgages, home reversion plans and other mortgages for the over 55s.

All Equity Release Supermarket’s local advisers are members of the Equity Release Council and all the products they recommend are regulated by the Financial Services Authority (FCA), so you can be confident you’re protected.

The company has achieved a 4.9 out of 5 Feefo rating and most recently won Best Equity Release Broker at the 2020 What Mortgage Awards.

What does Equity Release Supermarket do?

Equity Release Supermarket gives you impartial advice and access to an online comparison tool enabling you to compare deals available across the whole equity release market.

Using the ‘find an adviser’ tool, you can set up an appointment with a qualified advisor, either in person or over the phone. There’s no charge for this initial meeting and you’re under no obligation to go any further. The advisor you speak to will assess your needs and help you reach the solution best suited to your circumstances, and they will remain your single, dedicated point of contact throughout.

If you go on to apply for an equity release scheme, you’ll be given access to an online dashboard that lets you monitor your application’s progress 24 hours a day, seven days a week.

Equity Release Supermarket charges a simple one-off fee for its service, which is guaranteed to never exceed £995. You’ll also need to pay the usual professional fees. Your adviser will talk you through all the costs involved, as well as any deals or incentives that could reduce the overall cost.

Eligibility criteria

Eligibility will vary between products and providers; however, Equity Release Supermarket states you must meet four, very simple criteria in the first instance:

Be over 55 years of age
Be a homeowner and you own property in the UK
Your home is worth a minimum of £70,000
You have little or no mortgage left to pay on it

Next steps

To compare equity release providers or find out how much equity you could release from your home, using our easy-to-use calculator. It’s free and there’s no obligation to go further.

For free advice on a wide range of schemes, call 0800 368 8466 to speak to a specialist adviser at Age Partnership.

Finally, give equity release plenty of thought. Make sure you understand what you’re committing to, consider the alternatives and talk it through with your family, before coming to a decision.

Try the calculator