Over 150,000 customers¹ have used Just Equity Release to tap into home equity, showing that it is not just a financial tool but a means to unlock property wealth.

The Just For You lifetime mortgage offers multi-faceted elements, from the environmentally-conscious Green Mortgage Discount to the personally tailored medically underwritten option. 

Each feature is designed with precision and care, reflecting Just’s innovative approach to later-life borrowing.

The BankingTimes team has an intensive production process to ensure the articles on our information platform are trustworthy, accurate and relevant to our readers.

Let us have a closer look at what Just equity release has to offer…

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

What Is Just Equity Release?

It is a financial product offered by Just that enables homeowners to tap into their property's value while retaining ownership.

Understanding the Basics of Just’s Equity Release Offerings

The basic requirements of its equity release service are that homeowners must be 55 to 85 years old, with a primary residence in England, Wales, Mainland Scotland, or Northern Ireland, valued at £70,000 or more.

Any existing mortgage on the property needs to be settled with the funds released.

How Do Its Equity Releases Plans Work?

Its lifetime mortgage plans work by allowing you to draw an initial cash sum from your property's value. 

Additionally, it offers a subsequent cash facility, which is shaped by the person's age and the property's valuation, with a ceiling of £200,000 for any unutilised amounts. 

Each draw from the facility must be a minimum of £2,000, and the interest rates on that particular amount will be determined at the time of withdrawal.²

Furthermore

Before finalising your mortgage agreement, you can choose to set up a direct debit to cover either a portion or the entire monthly interest, with amounts ranging from £25 to the full interest value.

You may also qualify for the Green Mortgage Discount on the standard interest rates if your home has an Energy Performance Certificate (EPC) rating of A, B or C.  

In addition

You may be eligible for the medically underwritten option where, based on your age and certain health conditions, you will have access to a larger portion of your property’s equity or you will get better interest rates.³

Why Consider Just Equity Release?

People consider this provider for various reasons, mostly to do with improving their lifestyle or helping their families.

These include:

• Home renovations or repairs
• Paying off debts
• Supporting retirement living expenses
• Funding long-term care
• Assisting family, like helping with a house deposit or tuition fees
• Travel or leisure activities

How Does the Application Process Work?

The application process comprises a number of well-defined steps.

They are:

• An initial consultation with a financial advisor
• A property valuation to ascertain how much equity can be released
• Submitting the paperwork to the provider
• Receiving an offer, once you have been approved
• Concluding the legal formalities
• Completing the deal, and receiving the funds

How To Initiate Your Equity Release Journey

You initiate your equity release journey by doing some initial research and then contacting a financial advisor with experience in releasing equity. 

Your advisor will be able to determine whether releasing equity is suitable for your circumstances and assist you in selecting the optimal plan and navigating the application process.

How Long Does the Equity Release Process Take?

The equity release process generally takes between 6 to 12 weeks depending on the complexity of your application.⁴ 

Read On: Understanding the Process of Releasing Equity

What Are the Interest Rates and Fees?

Just’s interest rates and fees are tailored to the specific needs and conditions of each borrower. 

The fees associated with this form of borrowing cover various aspects of the application and processing journey. 

Exploring Interest Rates and Associated Costs in Just’s Lifetime Mortgage Plans

Interest rates for Just's plans are between 5.97% to 6.28%, affected by factors like property value and age. 

There are no valuation or application fees to be paid. 

Legal fees will be for your own account but are usually approximately £650.⁵

If you opt for Hub Financial Services' advice on these products and choose a plan they recommend, a fee of £1,100 will be charged.⁶

Transparency in Financial Information

Just’s financial information is transparent and in line with the regulatory requirements of the Financial Conduct Authority. 

What Do Customers Say About Just?

Customers have given Just a rating of 4.5 out of five stars on Trustpilot, but this is based on a small sample of just over 200 responses.⁷

Alongside these ratings, Just's complaint process provides a way for customers to voice and resolve their concerns.

What Is the Customer Feedback on Just Equity Release?

The customer feedback on Just Equity Release is largely positive. Consumers emphasize the firm's transparency, professionalism, and customer-centered approach.

The company's ability to simplify the complex equity release process and present options in an understandable manner is particularly praised.

Furthermore, they note its penchant for finding the most suitable equity release plan to suit their financial needs.

In addition, many customers appreciate the company's dedication to customer service.

They highlight the team's responsiveness, efficiency and patience in answering questions, and willingness to go the extra mile to ensure their satisfaction.

They also commend the company's integrity and its no-pressure, no-obligation policy, making the equity release process stress-free.

This reflects Just Equity Release's commitment to its customers, setting them apart in the industry.

Just FCA Details

Just is registered with the Financial Conduct Authority (reference number 232595). 

The company is authorised to offer banking, insurance, mortgages, home finance, pensions, and investments.⁸

How Can I Contact Just for More Information?

You can contact the provider by phone, via its website or by sending a letter. 

Its contact details are: 

• Phone: 01737 233296
• Address: Enterprise House, Bancroft Road, Reigate RH2 7RP.

How Did We Review Just?

We conducted an in-depth analysis of the company by examining its regulatory status, services offered, customer feedback on platforms like Trustpilot, and its complaint resolution process. 

We also considered any industry recognitions and its overall market presence. 

This holistic approach provided a comprehensive understanding of the company's operations and reputation.

Common Questions

Conclusion

As we navigate the intricacies of retirement planning, it is crucial to ensure that options like equity release align with our long-term goals. 

Just offers a promising avenue, but like all significant financial decisions, it is vital to tread with caution and knowledge. 

The importance of seeking expert advice cannot be stressed enough, especially when charting our financial future. 

In wrapping up, remember that equity release from Just is a valuable tool, but its potential is best unlocked with informed decisions and the right guidance.