SAGA has created the SAGA equity release service, an advice service for those considering releasing equity in their property.
The service, in partnership with equity release advisers Just Retirement Solutions, includes a full state benefit analysis to see whether equity release is the best solution.
SAGA charges a one off flat fee of 349 is payable regardless of the size of the loan.
The advisers select products from a panel of providers including Northern Rock, Mortgage Express, Scottish Widows and Just Retirement.
SAGA also promises it will only select a product that carries a no negative equity guarantee, to ensure the customer will never find the value of their loan exceeds the value of their home.
Andrew Goodsell, chief executive of SAGA, says: As older people become increasingly asset rich and cash poor, equity release is likely to be a serious consideration for many.
“This is a very important decision for the individual and their family, and an area in which a trusted brand like SAGA can provide considerable comfort and confidence.