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Monday 8:30am - 8:00pm
Tuesday 8:30am - 8:00pm
Wednesday 8:30am - 8:00pm
Thursday 8:30am - 8:00pm
Friday 8:30am - 6pm
Saturday 10:00am - 2pm
Are you with Papilio UK? Chances are you could benefit from switching to another provider.
Use our instant calculator below to find out how much you could unlock and one of our specialist team will get in touch to give you all the information you will need.
If you are originally took out your equity release plan with Northern Rock, you should be aware that Northen Rock have left the equity release industry. When they left they sold their equity release book of customers to JP Morgan. JP Morgan use a servicing company called Papilio UK to administer your equity release plan.
Whilst not ideal, it does provide you with an opportunity to review your Papilio UK equity release plan, to find out if there is a better deal available.
You'll be pleased to know that interest rates have fallen since Northern Rock sold equity release plans, so it is likely you will be able to find a better deal. What's more, since they are no longer active in the market, Papilio may waive any early redemption fees that originally applied to your equity release plan.
It's important to put your home equity plan through a health check up and even more so in the case of Papilio UK as they are no longer offering any further advances to customers. You may have been sold a drawdown plan or been told that you would be able to release more money in the future. This will no longer apply so it is very worthwhile giving us a call to see if we can switch the plan to a more suitable plan from a lifetime mortgage provider who is active in the market.
We will be able to provide a full review of the Papilio/Northen Rock plan to see if there is a lower interest rate available. Interest rates are currently lower than Papilio rates by anywhere from 0.5% to 1.5%. A difference in rates like this can save thousands in roll up interest over the years.
You can call us on 0800 652 2955. Be sure to quote Papilio1 when calling for your free lifetime mortgage health check.
Why did Northern Rock leave the lifetime mortgage industry?
Northern Rock and Papilio UK show your equity release plan is safe
Despite the fact Northern Rock suffered these horrendous consequences of the Great Recession of 2008-2011, equity release customers remained safe and secure. JP Morgan stepped in to purchase the lifetime mortgage book and whilst there has been an inconvenience and your lifetime policy is now administered by Papilio UK Equity Release, there have been no significant consequences. This is a reminder of how equity release works, in the sense that you are borrowing money, not the other way round. It is a very different proposition to having a savings account in a bank and that bank suffering from a recession.
Who are Papilio UK Equity Release Mortgages Ltd?
If you would like to switch from your Papilio Lifetime Mortgage then please use our calculator below to see how much could be available.
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One of our specialist advisers will then call you for a free, no-obligation chat about your personalised equity release plan and how you can take the next steps towards making your future the one that you always wanted it to be.
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Our adviser was friendly well informed and totally impartial, giving advice without pressure to follow up and left us feeling content. Thank you
I don't usually leave reviews as you don't usually get to know the company you work with but given this was a personal service from a real life person then I thought I would register and say well done!
If you are interested in learning more, you can contact us on 0808 164 1804 to discuss your needs with a view to arranging a face-to-face home visit with one of our financial advisers.
We'd like to discuss with you the features and savings of the different plans that we have extensively sourced and negotiated on your behalf.
You'll be in the comfort of your home, explaining to a relaxed, mature, qualified adviser what you would like to achieve. Unlike our competitors, we will bring personalised quotes on the first visit so your priorities, goals and ambitions can be matched with sound, detailed advice on how you can achieve them.