When researching equity release, many people are surprised by the number of household names they encounter. There are a great number of reputable and established financial institutions who now offer equity release schemes. There are already a great number of people who have utilised well-known names such as Prudential to gain a lump sum through a lifetime mortgage. For many people, the first indication of these names is found through using a Prudential equity release calculator. Equity release companies are often found to offer a number of different financial services and the Prudential is no different.
Who is Prudential?
For anyone who has car, life home insurance, they are probably familiar with the company name of Prudential. “The Pru” is one of the largest insurance providers in the entire world. The 2011 annual report for the company had the insurance giant declaring over a billion pounds profit for the first half of the year alone. However, many people are unaware that established companies such as the Prudential began offering equity release schemes many years ago.
With the Prudential equity release calculator, equity release applicants can explore the product range on offer to cover a great number of equity release needs and requirements.
Benefits Offered by Prudential:
When using the Prudential equity release calculator, equity release benefits are quickly highlighted. The calculator is linked to the full range of Prudential equity release products. This offers a number of benefits including:
• Draw down mortgages: Draw down lifetime mortgages are an extremely flexible arrangement which can be beneficial for a great number of people. Instead of offering a maximum lump sum, they create a facility to draw down funds as and when you require them. The main advantage to this is that you only begin to pay interest on the funds which have been replaced. This can save thousands of pounds over the long term, especially considering the extremely low interest rate offered by most high street banks on their savings accounts and investments. Another benefit of draw down mortgages is that there is no risk of losing your eligibility for means tested state assistance and benefits because you have money sat in a savings account which is over the qualification threshold.
• The Prudential name: Many people have lost a little confidence in the financial services industry during the recent financial crisis. During the housing crash, a great many people paid the price of using mortgage companies which were very small and not well established. The name Prudential is a well trusted and established brand name. As shown in the 2011 financial report, the name Prudential carries a great deal of weight within the financial services industry. This can provide a feeling of safety and reassurance that you are placing your financial arrangements in the hands of a company with a long history and a solid reputation.
• Specialist in older age groups: The Prudential has a history of offering specialist services for older age groups. From life insurance to home and car insurance, a great many older people have received great deals from the Prudential. It seems a natural progression then, to see the Prudential offering lifetime mortgages and other equity release schemes which have been especially designed for the over fifty fives age group.
Researching Prudential Equity Release
The first step to researching Prudential equity release is to visit the company website. With the Prudential equity release calculator, equity release is easy to research. You simply need to enter in your basic details and information about your property and the calculator will do the rest. It will take the information you have provided and integrate it into the formula the Prudential use to determine qualification and amounts of equity release. This will then provide you with a figure of the maximum release possible for your circumstances and some information about the plans and schemes which may be best suited to your needs. You can then compare this information to other plans to ensure that you are indeed getting a competitive deal.
If you are interested in equity release, established companies can provide a good foundation for your research. With the Prudential equity release calculator, equity release applicants can obtain information which will enable them to perform comparisons with other products and services. However, you should always consult with professional advice before making any final decisions about equity release. A specialist adviser will be able to help you to determine whether equity release is the best possible option for your requirements and assess the benefits and limitations of specific schemes. This will ensure that you can proceed, confident in your chosen product.