Do I have to use Select Partnership

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by Dustyrusty » Wed Apr 18, 2018 3:11 pm
Hi I'm coming to the end of my IVA and Apature has told me I have to deal with the select partnership for equity release or I'm in breach. My arrangement says 2 quotes from any broker / lender. Can they do this??
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by Foggy » Wed Apr 18, 2018 3:21 pm
No, they cannot force you to use their chosen firm, but can be over picky if you don't and, to be homnest, many find actually getting evidence of rejections difficult as most applications will not get as far as that, due to the IVA. To be fair, Select are a reputable company and deal with equity release in a fair way. They will look at all of your options, including secured lending, but you only have to take an option provided for in your agreed terms.
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by abbiesmum2003 » Thu Apr 19, 2018 1:06 pm
You sound like me a couple of months ago!
I was also unsure about them and had my reservations as assumed somehow connected to my iva company and wouldscrew me over but to be honest its been straight foward and theyve been helpful. Theyve sorted everything out and so far not been stressful for us.
I challenged the valuation side of hings and got my own done which I sent to them and they accepted. They are an independent company and are simply a middle man between iva company, yourself and the banks sorting out remortgage.
I would personally stick with it and see what offer they come up with. You might be pleasantly surprised.
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by kallis3 » Thu Apr 19, 2018 3:06 pm
What does it say in your original report?
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