Step Change Equity Release (Oct 2021)
Step Change Lifetime Mortgage Review
Are You Considering Step Change Equity Release? What are the Pros, Cons & Costs? Discover If Step Change Lifetime Mortgage Schemes are for You.
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Step Change Equity Release Review
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release provider with all the choices available.
Or is it?
Is Step Change equity release the best?
As experts in the equity release field (we’ve reviewed over 250 schemes!), we’ve combed the market, researched all equity release service providers and narrowed it down to who’s on top.
What's Equity Release & How Does It Work?
We've summed up the most important information about the topic in this quick video.
An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.
Equity release is available for individuals or couples over 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.
Learn More: What’s Equity Release & How Does It Work?
What About the Step Change Equity Release Calculator?
Before you consider using the Step Change equity release calculator, please take note.
Our providers can almost always match & BEAT any existing equity release quote that you find through Step Change. So first use this calculator below & see how much you can release.
How Much Can You Release?
Use the FREE Calculator 👇
It's VERY FAST, takes just 8 seconds
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About the providers we compare
Most popular reasons for releasing equity
Step Change's Equity Release & Lifetime Mortgage Schemes
Not what you're looking for?
Who Are Step Change?
The Foundation for Credit Counselling’s StepChange Debt Charity, 1 originally the Consumer Credit Counselling Service, is a debt charity that operates across the UK.
Step Change is the most comprehensive debt advice programme in the United Kingdom. They assist those who are in debt in regaining control of their money and life. The company’s mission is to build a society free of debt problems. Problem debt affects more than just people; it also affects families and communities, costing more than £8 billion every year.
Step Change will help society overcome the issues that debt produces in the twenty-first century by assisting individuals who are in debt and advocating for laws that try to avoid problem debt. Millions of lives have been changed as a result of the company’s initiatives, and they are devoted to aiding millions more.
Step aspires to be the most trusted supplier of free debt advice and solutions, and they’ll continue to advocate everything that’s finest in free debt advice and debt management, with the help of its partners and stakeholders.
With 1,500 staff in offices around the nation, the UK’s largest debt charity is at the forefront of offering debt advice and solutions.
The following are some of their main goals:
- Promote and raise knowledge about free debt counselling and solutions
- Improve people’s financial knowledge and abilities so they can better manage their finances and obligations
- Be the most effective and long-term source of debt counselling and solutions
123 Albion Street
LS2 8ERL S 2 8 E R
- STEPCHANGE VOLUNTARY ARRANGEMENTS
- Foundation for Credit Counselling
- STEPCHANGE DEBT CHARITY
- STEPCHANGE DEBT CHARITY SCOTLAND
- STEPCHANGE DEBT REMEDY
- STEPCHANGE MONEY AWARE
- Stepchange NI
- Stepchange Northern Ireland
- STEPCHANGE VA
- Stepchange Wales
- C.C.C.S Debt Remedy
- C.C.C.S Ireland
- C.C.C.S NI
- C.C.C.S Northern Ireland
- C.C.C.S Scotland
- Consumer Credit Counselling Service
- Debt Line
- Irish Debtline
- Scottish Debtline
- STEPCHANGE EQUITY RELEASE
- STEPCHANGE ER
- STEPCHANGE FINANCIAL SOLUTIONS
- Stepchange Money Matters
- STEPCHANGE VOLUTARY ARRANGEMENTS
- Stepchange Wellbeing
- Student Debtline
- The Debt Helpline
FCA Permitted Services
- Other Services
- Financial Conduct Authority
- Financial Services Authority
- FCA Ref Number: 729047
- FCA Reg Number: 2757055
Step Change Info
Got Questions About Step Change & Lifetime Mortgages? Check These First
Is Step Change A Member of the Equity Release Council?
Step Change is not a member of the Equity Release Council.
What Are Step Change's Interest Rates on Equity Release?
Step Change’s interest rates on equity release are generally competitive. As of July 2015, the company had a maximum rate for lifetime mortgages of 3.99% and a maximum purchase rate for drawdown plans that started before March 2015 of 5%.
Who Owns Step Change?
The company is a subsidiary of Lloyds Banking Group. You can read more about Lloyds and its subsidiaries in the company’s profile article .
Where is Step Change Located?
The company’s headquarters are in Newcastle upon Tyne, United Kingdom. It also has offices and/or subsidiaries in the following locations:
- Aberdeen, United Kingdom
- Birmingham, United Kingdom
- Cambridge, United Kingdom
PS – If you’re anything like us, you skipped to the end anyway.
So here’s the scoop – our intention is to help you by finding the best lifetime mortgage so that you can spend the money on something that you really want to, rather than on a high tax bill.
Most send us a personal thank you because we do such an incredible job.
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
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Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.
Use our free equity release calculator & see how much you can release today.