If you believe that equity release will augment the reduction in income when you retire, it is important to think of various factors behind it. First of all it's best to take note of the property value and its capacity to release a big amount when needed or whether it possesses a drawdown facility. When you consult a specialist, he will show you his stories of how the surveyor underestimated the house after submitting the application form and paying the fees which could shatter all the plans.

Equity release application means nothing but an additional work to the advisers. Those who apply would worry if the funds would be enough to make the case proceed in which he might result in paying money for valuing a property that might not be of use to him. So, if you are filling up an application for mortgage of life time or any other equity release, always get the advice of the professional equity release adviser. Though they may not visit you personally, they might perform a thorough analysis online to understand the value of the property so that you need not believe entirely what the surveyor says.

Not only that you might get the advice from your experts, but also you can see for yourself online the current property's value. Some sites like Ourproperty, Rightmove and Mouseprice are open to all and so you could see the sale prices of the property simply by entering your postcode. They get their information from Land Registry's data and they are more reliable to assess the worth of your property. Usually we'd have realized that the price quoted for sales is much more than the price sold.

If you get proper advice from proper person, then you reduce the risk of wasting valuation fee and getting disappointed. A surveyor might not take into account all the factors determining the cost of a property like its style, streets nearby, property sizes and so he cannot provide 100% accurate results. A number of people approach the local estate agent to value their property. This can not be said as bad, however when you note it, usually they give the price for that the property will be sold and not the real property's value itself.

So, when you approach them do ask for both the selling price and the actual value. However the person who is appointed by equity release provider does not pay heed to the asking price but rather compares it with the other properties of the area before assuming the worth. He usually takes into account the value of the properties sold within few months in that area for determining your property's value.

Once you do a little research yourself, you'll certainly find the value of your property to be more than what was appraised by the adviser. Once you think that your adviser didn't play fair in the issue, you may raise certain doubts about the values of properties used as comparisons, and ask them if your property is the same in size and style of those properties. You may also ask them whether they took into account the location of your property in addition to its condition. You could enquire them how and on what basis did they calculated the purchase price. Answering these questions can help the adviser to get to an accurate valuation, but if you're too conservative, they may give you a higher valuation rather than its correct value.