Just Equity Release is rapidly becoming a sought-after solution for retirees, servicing over 650,000 customers.¹ 

As the financial landscape for seniors evolves, it is paramount to make informed decisions with reliable information. 

Could Just be the best solution for you?

In this review our expert researchers are presenting Just's offerings by focusing on its equity release schemes and expertise offered by their equity release providers. 

So if you are looking for unbiased and trustworthy insights into 1 of the UK's leading equity release providers, find out more here.

NB: Fundweb is an unrelated and independent 3rd-party provider, and the information provided in this article are the opinions of Fundweb only and may not reflect the views of Just. This article is not to be construed as advice, nor is it a solicitation to enter any financial product provided by Just.

What Is Equity Release For Seniors?

Equity release for seniors is a practical solution for older individuals to unlock the financial potential of their homes, ensuring a more comfortable retirement.

Who Is Just?

Tracing its roots back to 2004 as Just Retirement Limited, it has carved a niche in the UK financial landscape, addressing the fiscal needs of an ageing population. 

In 2016 Just Retirement Limited and Partnership Life Assurance Company Limited joined forces to create the JRP Group.²  

What Is the Customer Feedback on Just Equity Release?

The customer feedback on Just Equity Release is largely positive.

Consumers emphasize the firm's transparency, professionalism, and customer-centered approach.

The company's ability to simplify the complex equity release process and present options in an understandable manner is particularly praised.

Furthermore, they note its penchant for finding the most suitable equity release plan to suit their financial needs.

In addition, many customers appreciate the company's dedication to customer service.

They highlight the team's responsiveness, efficiency and patience in answering questions, and willingness to go the extra mile to ensure their satisfaction.

They also commend the company's integrity and its no-pressure, no-obligation policy, making the equity release process stress-free.

This reflects Just Equity Release's commitment to its customers, setting them apart in the industry.

Why Opt for Just?

You should consider Just because it holds all the necessary regulations and has won multiple awards for its service.

Here is a breakdown.

Industry Regulated

Just is regulated by the stringent guidelines of the Financial Conduct Authority (FCA)³ and the Prudential Regulation Authority (PRA),⁴ which ensure its services are safe and fair. 

It also belongs to the Equity Release Council (ERC).⁵

Award-Winning Services

Its dedication to premier service delivery has not gone unnoticed with the company having won numerous awards. 

Here is a snapshot of their various awards:

• 2 Star 'Outstanding’ badge of honour from Best Companies
• A place among 'The UK’s Top 100 Large Workplaces'
• Spotlighted in 'Financial Services’ Top 30 Employers'
• Anchored a position in 'London’s Leading 75 Large Workplaces'
• Acknowledged in 'The South East’s Prestigious 100 Employers'
• Selected for 'Northern Ireland’s Elite 10 Workplaces'

A View of Just's Financial Services

Just’s diverse offerings include:

• Annuities and retirement planning
• Equity release
• Estate blueprinting
• Income drawdown strategies
• Insurance packages
• Investment avenues
• Pension plans
• Provisions for care funding
• Savings instruments

Does Just Have Equity Release Products?

Yes, they provide equity release via its Just For You Lifetime Mortgage plan, only facilitated through certified advisers. 

If your personal financial adviser is not authorised to help you, you can reach out to Just's subsidiary, Hub Financial Services.

Does Just Have an Equity Release Calculator?

Yes, it does offer one on its website.⁶ 

You are also welcome to use ours for free here below.

An Overview of the Just For You Lifetime Mortgage

This mortgage is a flexible product designed to be tailored to meet your unique needs and circumstances.

Here are the various options to choose from:

• 3-Year Exemption from Early Repayment Fee
• Cash Flexibility Provision
• Fivefold LTV Tier Alternatives
• Medical-Driven Enhancements

Just For You Lifetime Mortgage Plan and Features

This lifetime mortgage plan offers several useful features.

Regular features to explore:

• A drawdown mechanism with a tax-exempt lump sum
• Flexibility for up to 100% monthly interest repayments
• A 3-month holiday on interest dues
• Transition to a compounded plan if interest pauses for half a year
• Cashback incentive to augment LTV eligibility

Just Enhanced Lifetime Mortgage Features

The enhanced version of the Just For You Mortgage plan takes into account your health and lifestyle through medical underwriting.

Just has found that more than half of its customers could qualify for more benefits this way.⁷  

Outcomes that could be affected:

• Consideration of medical conditions affects the potential size of the lump sum.
• Monthly payments
• Interest rate will be modified accordingly

Who Is Eligible for Just’s Equity Release?

Only customers meeting certain criteria can be eligible.

These criteria include:

• Equity Bracket: £10,000 base (or £20,000 for monthly models) to £1,000,000 for mainland UK properties and a cap of £250,000 for Northern Irish estates.
• Age Spectrum: 55 - 85 years
• Property Benchmark Value: £70,000
• Geographical Reach: Mainland UK and Northern Ireland

What Are Just’s Equity Release Interest Metrics?

Their interest hovers between 6.14% to 6.46%, depending on the selected scheme.*

*While we frequently review the rates published on our site, please note that these may have changed since our last update.

How Are Just's Fees Structured?

For newcomers, appraisal and initiation fees are absorbed. 

But, bespoke services like fiscal guidance or legal consultations may incur supplementary charges. 

Plan migrations or modifications could attract re-evaluation fees, onsite agent visits, or niche report fees.

Pros and Cons of Just's Equity Release Offerings

Although Just offers a number of flexible options, equity release could be an expensive way to borrow money.

Pros

Pros to consider:

• Wide range of options
• Tax-free lump sum
• Flexible repayment options
• Payment holidays offered
• Easy to convert from interest payments to a roll-up plan
• Regulated by industry bodies like PRA, FCA and ERC
• The medical enhancements option provides tailored solutions for those with specific health concerns.
• No initial fees for new clients

Cons 

Cons to consider:

• Interest accumulation could lead to a larger debt over time.
• Reduced Inheritance since the equity in the home decreases with the loan, which could significantly reduce the inheritance for the heirs.
• Potential Early Repayment Fees may be applicable
• Equity release is a complex product and may not be suitable for everyone.
• Property value restrictions
• Fees may apply for additional services even if initial fees are waived.
• Only properties in England, Scotland, Wales, and Northern Ireland qualify, excluding other regions
• Only available to clients aged 55 - 85 years

How do Just’s Customers Rate It?

Just has high customer ratings, with one particular customer staging that the service was 'so quick and easy’.

Those on the fence can sift through online testimonials on portals like:

• Trustpilot  
• UK.Indeed.com

What Is Just’s Grievance Procedure?

Complaints can be lodged via:

• Email: complaints@wearejust.co.uk
• Telephone:01737 233297
• In Writing: Enterprise House, Bancroft Road, Reigate, Surrey, RH2 7RP

You could also leave a complaint or review online via Trustpilot or Feefo. 

How Did We Review Just?

We reviewed Just based on the following:

• Reputation and History – How many years they have been in business, customer reviews, and industry rewards received.
• Financial Strength – Ensuring it is going strong and has adequate funds to meet long-term commitments.
• Product Range – We will favour companies offering a variety of equity release schemes with greater product flexibility.
• Interest Rates and Fees – We have reviewed competitive rates compared to industry averages, and they must be fully transparent about rates and fees without hidden costs.
• Customer Service and Support – When and how it is available, response times, and available online educational resources. As well as online tools, like a calculator.
• Code of Conduct and Compliance – We only considered companies that adhere to recognised industry standards and codes.
• Industry Insights and Peer Reviews – We care about a company’s industry-wide reputation.
• Innovation and Technology – Is there a streamlined, digital application process?
• Client Testimonials – Success stories and the complaints resolution process.

Regulatory Information 

Just is regulated by the following regulatory bodies: 

• Financial Conduct Authority (FCA)
• Prudential Regulation Authority (PRO) 
• Equity Release Council (ERC)

Financial Conduct Authority (FCA)

The company is one of nearly 50,000 businesses in the UK regulated by the Financial Conduct Authority (FCA) to ensure good conduct by the financial services sector. 

According to the FCA's records, the firm is registered as Just Retirement Limited and permitted to offer services in relation to mortgages, pensions, investments, banking, and insurance. 

Prudential Regulation Authority (PRA)

LV= is also a member of the Prudential Regulation Authority (PRA), which forms part of the Bank of England and is responsible for supervising financial service providers to ensure products are offered safely and soundly.

Equity Release Council (ERC)

As a member of the Equity Release Council (ERC), the firm adheres to the industry body’s strict code of conduct to safeguard consumers.

Common Questions

In Conclusion

As the demand for equity release solutions grows, it is essential to partner with reliable equity release providers. 

So, if you are contemplating this avenue, seek advice from an accredited adviser to check whether this is the right choice for you.

Although Just Equity Release offers a unique blend of flexibility and assurance, there may be other options for you to also consider.