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We are authorised and regulated by the Financial Conduct Authority (FCA) and members of the Equity Release Council.
Bower has always supported the aims of The Council and the associated SHIP safeguards which our membership offers, such as its commitment to impartial advice.
How much tax-free cash you can release depends on a number of factors, including your age and your property’s value. Your health can also affect the figure as some lenders offer larger equity release sums to those with certain health or lifestyle conditions.
During your free, no-obligation appointment with Bower your expert adviser will go through all these factors with you. After your appointment, we’ll find the best plan based on your needs and priorities, and then return to present our report (including a more precise figure of what you could achieve).
The exact amount you can release will then be decided by the provider you choose. They’ll instruct a surveyor to give a professional valuation of your property that will officially define the amount of equity you can release.
If you’re looking for a ‘maximum release’ then your adviser may recommend an enhanced plan, which is available to people with a qualifying health or lifestyle condition. These plans let you release a larger percentage of your home’s value as your life expectancy is generally assumed to be shorter.
There are over a hundred different qualifying health conditions including past or present case(s) of angina, cancer, high blood pressure, diabetes, Alzheimer’s and kidney disease. You may also qualify for enhanced rates if you have a history of smoking or a high/low Body Mass Index (BMI).
Your Bower adviser will talk through all this with you when you meet.