If you own your home in Norfolk, Suffolk or Cambridgeshire and are thinking about equity release, the adviser you choose matters as much as the plan.

Here are five local firms that advise on equity release, what a good adviser should do for you, and the questions worth asking at the first meeting.

Quick answer: who are the best equity release advisers in East Anglia?

Look for a qualified, FCA-regulated adviser who will meet you in person, involve your family if you want them there, and talk through the alternatives. Local options include Trusted Equity Release, Broadland Consultants, Mortgage Force Cambridgeshire, NM Finance and Brancaster House.

What does an equity release adviser do?

Equity release lets homeowners aged 55 and over take money from the value of their home without moving, usually through a lifetime mortgage. Interest is normally added to the loan and repaid when the home is sold, after death or a move into long-term care. Equity release reduces the value of your estate and can affect means-tested benefits.

Because the decision is long-term and hard to undo, advice is required before you can take out a plan. A good adviser will look at your whole situation first: your income, your health, your wishes for your family and whether a cheaper option, such as downsizing, using savings or claiming benefits you are entitled to, would do the job instead. Only then should they compare plans across the market.

Five East Anglian firms that advise on equity release

Listed in no particular order. All five are regulated, but they work differently, so it is worth speaking to more than one.

Trusted Equity Release (near March, Cambridgeshire)

Jeremy Furnell advises on lifetime mortgages and later-life lending for homeowners across Cambridgeshire and the neighbouring counties. You can read how he works with homeowners in and around the city at Trusted Equity Release in Cambridge.

Broadland Consultants (Aylsham, Norfolk)

A Norfolk mortgage and financial advice firm covering mortgages, protection and equity release, and it describes itself as whole of market.

Mortgage Force Cambridgeshire (March, with offices in Ely and King’s Lynn)

The trading name of Cozens & Dean, a local mortgage broker established in 2002 that includes equity release and retirement mortgages among its services.

NM Finance (Norwich)

A broad mortgage broker of more than 20 years’ standing, describing itself as whole of market, with equity release and later-life lending alongside residential mortgages.

Brancaster House (Norwich)

An independent financial planning practice that includes equity release as part of wider retirement and estate planning, which suits people who want one adviser looking at pensions, investments and property together.

How do you choose the right adviser?

Check they are on the FCA register and hold an equity release qualification. Ask whether they can recommend plans from across the market or from a limited panel. Ask how they are paid and what the total cost will be if you go ahead and if you don’t.

Ask whether the lenders they recommend are members of the Equity Release Council. Plans from member firms come with standards including a no negative equity guarantee, the right to stay in your home for life and the right to move to another suitable property.

And pay attention to how they make you feel. You should never be rushed. A good adviser will encourage you to involve your family, suggest you speak to your solicitor, and be comfortable telling you equity release isn’t right for you.

What should you have ready for a first meeting?

A rough idea of your home’s value, details of any existing mortgage, your income and any benefits you receive, and what you want the money for. If you have a will or a lasting power of attorney, bring them. Most importantly, bring your questions, and someone you trust if that helps.

Is equity release right for you?

Only you can decide, after advice. For some homeowners in East Anglia it frees up money to repair a home, help family or live more comfortably. For others, downsizing to a smaller property or using savings makes more sense. Take your time and compare options. Equity release reduces the value of your estate and can affect means-tested benefits.

Jeremy Furnell advises on later life lending for Trusted Equity Release from a base near March in Cambridgeshire. His FCA register reference is JLF01060. The Financial Conduct Authority authorises and regulates Pellucid Ltd (FRN 981845), the firm he advises through.