In the realm of property finance, Equity Release Supermarket has emerged as a key player, especially relevant for homeowners over 55 looking to leverage the value of their properties. 

As the number of equity release products nearly tripled in 2022, seeking expert guidance has become increasingly necessary when navigating this expanded market.¹

STATEMENT: BankingTimes is a separate third-party information provider and therefore not related to Equity Release Supermarket, and the information replicated in this section represents the interpretations of BankingTimes only and not the opinions of Equity Release Supermarket. This piece does not constitute advice, or an incitement to enter any services or products provided by Equity Release Supermarket.

What Is the Public Consensus on Equity Release Supermarket?

Public consensus on Equity Release Supermarket is largely positive. As seasoned professionals in the financial industry, we've observed that their commitment to transparency, customer service, and providing tailored solutions receive high praise.

They've effectively simplified the complex process of equity release, making it more accessible for many homeowners.

Critics are few and far between. Most users commend the platform's user-friendly design and helpful online tools. With the clear information given on equity release schemes, clients find it easier to make informed financial decisions.

This is a unique feature that sets Equity Release Supermarket apart in the industry.

BankingTimes presents an in-depth look at Equity Release Supermarket, evaluating its services, history, and impact in the market.

What is Equity Release Supermarket?

Equity Release Supermarket was founded by Mark Gregory in 2008 to provide personalised and clear advice on property finance.² 

Since its inception, it has solidified its reputation as a premier advisory firm in the UK, becoming synonymous with transparency and unwavering commitment to customer satisfaction.

Its services include:

• Objective guidance on property finance
• Detailed product comparisons
• A user-friendly online calculator for property equity estimates
• Informative resources designed for older homeowners

Why Should You Choose Equity Release Supermarket?

There are many benefits of working with Equity Release Supermarket, such as independent advice, comparative tools, and educational support.

Let us take a closer look at these and other benefits. 

Independent Advice

It provides unbiased recommendations, thoroughly scanning the market to ensure you receive options best suited to your needs, free from any lender bias.

Comparative Tools

The platform enables straightforward comparisons of various equity release products, focusing on features, costs, and benefits, to help you make an informed decision.

Educational Support

It provides a range of educational materials, including detailed guides and FAQs, to demystify property finance and equity release, enhancing your understanding.

Calculation Tools

It simplifies preliminary estimates of equity release, giving you an idea of how much you can borrow and how it will affect your property value.

Established Trust

It has earned a reputation for reliability and expertise in the sector, demonstrating a strong track record in the market.

Client Focus

It is committed to transparent communication and customer satisfaction, ensuring that you are fully informed and happy with your decision.

Safeguarding Interests

It protects you from unfair market practices, such as hidden fees, high interest rates, or unsuitable products.

What Does Equity Release Supermarket Do?

Although not a direct provider of equity release schemes, it is a broker and advisor, helping you find the best option for your needs. 

Its Role

It offers a comprehensive service that covers every stage of the equity release process, from initial consultation to completion. 

It will:

• Assess your eligibility and financial situation
• Research the whole market and recommend the most suitable product for you
• Provide you with a detailed illustration of the costs and benefits of the chosen product
• Help you complete the application form and submit it to the lender
• Liaise with the lender, solicitor, and valuer on your behalf
• Keep you updated on the progress of your application
• Support you until the funds are released to you

Its Fees

It charges a fixed fee of £1495 for its advice and service, which is only payable upon completion of your application.³ 

This fee is guaranteed to never be more than £1495, regardless of the amount you borrow. 

It also offers a free initial consultation, with no obligation to proceed.

Do not forget that in addition to this fee, you may have to pay other fees to the lender, solicitor, and valuer, depending on the product you choose. 

Read More: Do You Need a Solicitor for Equity Release?

What are the Pros and Cons of Equity Release Supermarket?

Using Equity Release Supermarket offers the advantage of accessing a wide range of impartial advice and product comparisons, but it also has the disadvantage of potentially overwhelming you with the sheer volume of options.

Some of the benefits of using Equity Release Supermarket include:

• Market-wide independent advice
• Simplified product comparisons
• Access to educational resources
• A reputation for reliability
• Financial estimation tools
• Emphasis on clear communication

Some of the drawbacks of using Equity Release Supermarket include:

• Not being a direct provider
• Possible additional fees
• Market limitations
• Overwhelming product choices
• Risk of misaligned advice
• Complexity in understanding terms

How are the Customer Experiences and Complaint Procedures at Equity Release Supermarket?

The company has received positive feedback on platforms like Trustpilot and Feefo, indicating that most customers are satisfied with its services. 

For any complaints, you can contact Equity Release Supermarket directly via phone, email, or its website, and it will try to resolve your issue as soon as possible. 

If you are not happy with its response, you can escalate your complaint to various consumer platforms, or regulatory bodies, such as the Financial Ombudsman Service, the Financial Conduct Authority, or the Equity Release Council.⁴

How Did We Review Equity Release Supermarket?

Our review was based on several criteria, such as its reputation, product range, interest rates, customer service, compliance with industry standards, and technological innovation. 

How is Equity Release Supermarket Regulated?

The firm is regulated by the Financial Conduct Authority (FCA), under the reference number 584063,⁵ which ensures high standards of integrity and customer interest. 

It is also a member of the Equity Release Council, which sets the best practice standards for the industry.

How to Contact the Firm

You can contact it via phone, email, or its website, using the following details:

• Phone: 0800 802 1051
• Email: info@equityreleasesupermarket.com
• Website: https://www.equityreleasesupermarket.com

Common Questions

Conclusion

Equity Release Supermarket has established itself as a significant player in the realm of property finance, offering transparent and client-focused services. 

This firm is well-equipped to assist you in navigating the complexities of unlocking your property's financial value, providing a blend of expertise, comprehensive advice, and tailored solutions. 

For those exploring the intricacies of property finance, Equity Release Supermarket presents itself as a knowledgeable guide in this specialised field.