What are the safe guards?
To guarantee your safety, Newcastle Equity Release Service will only recommend Equity Release schemes from providers who follow the Safe Home Income Plans (SHIP) Code of Practice (unless monthly repayment of interest is more suitable for you).
The SHIP Code includes:
FSA
The Financial Services Authority (FSA) regulates lifetime mortgages and home reversion plans which means that there are clear rules about how we treat our customers and ways to complain about any problems.
You can visit the FSA's website for more information - www.fsa.gov.uk
To guarantee your safety, Newcastle Equity Release Service will only recommend Equity Release schemes from providers who follow the Safe Home Income Plans (SHIP) Code of Practice (unless monthly repayment of interest is more suitable for you).
The SHIP Code includes:
- A "no negative guarantee" meaning that you will never owe more than the value of your home
- A SHIP certificate clearly stating the main cost to the householder's assets and estate
- The client's legal work will always be performed by the solicitor of his or her choice
- The members of SHIP will only provide a fair, simple and complete presentation of their plans
FSA
The Financial Services Authority (FSA) regulates lifetime mortgages and home reversion plans which means that there are clear rules about how we treat our customers and ways to complain about any problems.
You can visit the FSA's website for more information - www.fsa.gov.uk