There are some basic ground rules where you should never consider any type of equity release product:
1. You do not trust or are suspicious of the product provider or their agent/employee
2. You do not understand the product or concept
3. You do not want to give away any part of your home ownership or put your home at risk
4. Having struggled for years to pay and now pay off your mortgage, you want to keep your home mortgage free
5. You want your children or grandchildren to benefit financially from the value of your home
6. Your family and/ or solicitor and/or financial advisor are against the concept or the particular plan offered
7. Your circumstances are likely to change in the near future e.g. marriage
8. You want to or may want to or are considering moving house
9. You only need a small amount of money
10. You and/or your partner are below the minimum age limit
11. Your home has a major defect such as subsidence, needs major repairs, or is unusual.
12. Your home may be at risk from a road or property scheme where there could be compulsory purchase or a developer keen to buy you out
13. You do not want to spend the rest of your life in constant debt
14. You have special tax needs
15. You do not want to be a tenant
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