A Which? equity release guide could be an invaluable tool for understanding this financial option. 

Owned by the Consumer Association, Which? does not offer equity release products, but specialises in providing independent reviews and advice across various sectors.

That being said, its influence is not to be overlooked: according to the 2021/2022 annual report, Which? has over 576,000 members.¹ 

By leveraging its magazine and extensive online resources, consumers gain the insights they need to make informed choices.

BankingTimes is a reputable source of information, widely trusted for its in-depth research and accurate, timely financial insights. 

Its credibility is further supported by the quality of its data-driven insights.

Read on…

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

Who Is Which??

Founded in 1957, Which? is a consumer advocacy organisation wholly owned by the Consumer Association.²

It offers a range of member-accessible services including over 8,000 product reviews and specialised magazines in areas like money, travel, and gardening. 

Beyond its paid services, Which? provides free email newsletters and comparison tools for household bills. 

There is also technical and legal support for members, as well as online services for writing wills and preparing power of attorney documents.

Does Which? Have an Alternative to an Equity Release Calculator?

Yes, Which? has several alternatives to these calculators, designed to help you assess your finances before and during retirement.

These tools offer insights into the value of your pension pot, projected income, tax benefits on your pension, and various drawdown options, to name a few.

If you want to work out how much equity you could potentially release from your home, why not try our handy equity release calculator?

Learn More: Alternatives to Equity Release Plans

Why Consider Which??

When it comes to equity release, Which? offers valuable insights through its independent advice. 

With comprehensive guides and seasoned experts on board, the platform clarifies the associated risks and advantages, steering you toward the most suitable options for your circumstances.

How Did We Review the Info on Which? and Equity Release?

We reviewed the information on Which? and equity release by examining its published guides, articles, and expert advice. 

We also considered the organisation's reputation for independent, consumer-focused research to assess the credibility of its information.

Customer Reviews

Which? scores only 1.7 stars out of five on Trustpilot based on 493 reviews.³

However, it is worth noting that this number is relatively minor when weighed against the vast size of Which?'s membership.

A significant portion of these comments pertains to product reviews, with users either sensing bias or feeling that the products do not meet their expectations.

Which? Complaints

Which? commits to addressing complaints within a single business day; however, if a resolution is not reached within three days, you will be contacted on the fifth day with an expected timeline for a response.⁴

If you would like to lodge a complaint with the company, you can do so via these channels: 

• Email: complaintsteam@which.co.uk
• Phone: 02922 670030
• Post: Which? Complaints Team, 3 Capital Quarter, Tyndall Street, Cardiff, CF104BT. 

What Are Which?’s Interest Rates?

Which? does not offer any financial products and as such interest rates do not apply.

What Are Which?’s Fees?

Which? primarily generates revenue from member subscriptions for its commercial offerings.

Additionally, the organisation secures commissions from select retailer websites that showcase products it has reviewed and businesses can obtain licensing to feature the Which? endorsement of their products. 

The three package options:

• Digital access at £79/year: Includes access to all products, the Which? app, the digital magazine, and the Ask Which? personal buying service.
• Full access at £99/year: Provides all of the above plus the printed magazine.
• Printed magazine at £79/year: Includes monthly delivery of the print magazine.

What Are the Advantages and Disadvantages of Which??

The advantages of Which? include access to independent reviews of a wide range of topics, but the disadvantages include having to pay a subscription fee. 

Let us take a closer look. 

Advantages of Which? include: 

• Independent, unbiased reviews: Gives consumers reliable information for making informed choices.
• Wide range of topics: Reviews a variety of products and services, enhancing consumer knowledge.
• Consumer advocacy: Advocates for consumer rights and offers legal guidance.
• Whole-market advice: For paying members, advice is sourced from multiple providers.
• Trusted connections: Can link consumers with vetted service providers.

Some disadvantages of Which? worth considering:

• Subscription fee: Full access often requires a paid membership.
• Limited scope: Does not cover all products or services in the market.
• Potential bias: It earns commissions from some retailers, though claims to maintain independence.
• No regulated advice: Despite offering personalised advice to subscribers, it is not licensed to provide regulated financial advice.
• Limited access: Advice services are only available to paying members.

Regulators

Which?’s parent company, the Consumers' Association, is a regulated charity overseen by the Charity Commission, with its board members serving as both charity trustees and company directors. 

• The Consumers' Association’s charity registration number: 296072⁵
• Company limited by guarantee registration number: 580128⁶ 
• Which? Limited registration number: 677665⁷ 

Which? Contact Number and Address

To get in touch with the company, you can use the following details: 

Address: 2 Marylebone Road, London, NW1 4DF

Phone: 029 2267 0000

Common Questions

Conclusion

Which? offers a plethora of resources, from specialised calculators to expert advice, aimed at helping consumers make informed financial decisions. 

Its comprehensive approach and independence make it a go-to source for many. Despite some criticisms, it remains a significant player in the consumer advocacy field. 

For those exploring their options, a Which? equity release guide could be a highly useful resource.