Many people are confused as to what they should look for when seeking equity release advice. One of the main things is an adviser who specialises in this area and deals with these plans on a regular basis. This is important, as advisers need to look at your whole circumstances- financial, personal, future and family, then advise you on the most appropriate plan from the whole of the market. You should also never be "bulldozered" in to making a decision quickly. This is a very important decision for you and you family and your feelings must be taken in to account every step of the way. Some people do not like to actually see their adviser, but as this is a very personal decision to make, you usually get better advice if you have a face to face meeting, so that you can discuss every part of the plans you are looking at and it also makes life easier for the adviser who assesses your circumstances.

It's always useful to do as much research as possible for yourself on this matter, but a good adviser should always be able to point you in the direction of some good unbiased literature for you to digest.

Some very good tips are to never take more money on a plan than you need to at the time, as this means that you are accruing interest on money that you are not using. If you think you may need more money in the future, your adviser should discuss draw down options. Home Reversion plans should also be discussed, as they suit some people better than Lifetime Mortgages. Protecting part of the value of your property for your beneficiaries should also be discussed. If you have quite good income in retirement, you should consider taking interest only plans, as this slows or prevents the roll-up of interest, which erodes the equity in your home. Some people do not realise that there are plans available for Buy to let properties or second homes,this could also be an alternative arrangement.

Equity Release plans all have to have solicitors involved to make sure that you fully understand the pro's and cons of taking these, so again it's worth finding a solicitor who deals with this financial area regularly.

Finally, use an adviser who you feel comfortable with and you feel you can trust as you have to discuss very personal issues to obtain the best result.