SHIP - Safe Home Income Plans

Safe Home Income Plans (SHIP) from The equityRelease Centre

Safe Home Income Plans or SHIP for short is a voluntary trade organisation established in 1991 dedicated entirely to the protection of equity release plan holders and promotion of safe home income and equity release plans. All participating equity release companies, apart from giving fair and simple details of the plan, must also:

• Ensure that you or the last plan holder retains the right to live in the property for as long as you wish.
• Grant the right to move to suitable alternative without penalty (although a partial repayment may be required just to keep the loan in proportion to any cheaper home).
• Insist that you appoint your own Solicitor who must certify that they have explained to you all of the conditions of the loan before the provider will release any money.
• Guarantees that you cannot loose your home – whatever happens to the stock market or interest rates.
• Offer a no-negative equity guarantee.

SHIP also provides a formal procedure for handling complaints.

They have done considerable work in raising the standards of equity release schemes. Even though the Financial Services Authority will now regulate the selling and marketing of Lifetime Mortgages, SHIP will continue its good work and although the FSA now regulates the sale of Home Reversion Plans, SHIP remains the sole trade body responsible for standards in the design of safe equity release plans.

The equityRelease Centre are independent specialists in advising and arranging schemes offered by SHIP members.

If you would like further advice please complete our equity release enquiry form and one of our trained consultants will call you back shortly. Alternatively please feel free to phone The equityRelease Centre on 0118 958 8810 or click through to our Equity Release Centre home page and follow the links from there.

You will always receive courteous service in the strictest confidence from highly trained staff who all value your custom. Your business will be dealt with in a friendly, efficient and personal manner at all times.

“Equity release” includes home reversions plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.

The equityRelease Centre
8a Richfield Avenue
Reading
Berkshire
RG1 8EQ
Tel: 0118 958 8810 

e-mail:
enquiries@uk-equity-release-centre.co.uk

Principal:
Keith Hargraves

The equityRelease Centre is a trading style of Advice on Money which is an appointed representative of Sesame Ltd, which is authorised and regulated by the Financial Services Authority. Sesame is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427.

The information contained in this web site is for general information only and is not financial, investment or tax advice. It is also subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. If you would like to discuss a particular issue or generally ask us how we can advise on your particular situation then please contact us.

For researching and arranging the best scheme for you, we will make a charge. This can be paid either by you as a fee, usually 2.5% charged on completion with any commission received from the lender refunded to you, or a combination of fee and commission, usually 1.5% fee charged on completion and 1% commission received from the provider.

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