There are many people who do not like the idea of equity release as they have heard bad things about them. It is important to make sure that when you go in to anything like this, that you make sure that you find out a lot about it first. You need to be sure that you understand exactly what you are getting in to.
Often when people feel that they have been conned it is because they have not read the terms and conditions properly. They have not fully understood what they are signing up to and so although they claimed they have been conned, it is actually that they have not understood. Therefore it is extremely important to make sure that you know exactly what you are getting in to. Make sure you read all of the paperwork, especially the small print and ask lots of questions. It is wise to take advice from someone else as well, perhaps someone who is neutral to the situation, a family friend or member of the family that does not stand to inherit anything. It is also worth discussing with anyone who has had any previous experience of this sort of scheme.
Of course, you also need to be careful about the company that you use. You want to make sure that you trust them as, sadly, there are some companies out there who are not trustworthy. Therefore go with a company that you know and trust or with one that you can find out a lot about. It is always good reading online reviews about companies and asking people about their experiences of them.
It can be tempting to go with a company that you have not heard of because they are offering the best interest rates or cheapest products. However, there may be a good reason why they are cheap, they may not offer a good service. So phone up their customer services and ask lots of questions. See if you get good responses and whether you think that the staff are knowledgeable enough in your opinion. Do this with a selection of companies and you will be able to compare them, not only on their products but on how good their customer services is. Never let yourself be talked in to something on a first phone call. Make sure that you call a selection of companies and compare them. Also sleep on the decision as it is a big one to make.