Once you have taken independent equity release advice and decided on the equity release product, you will be required to take legal advice on the terms of the equity release and for an equity release solicitor to deal with the legal documentation before obtaining the funds.
Why do an Equity Release?
You may wish to use equity release, for example, to:
- fund your lifestyle
- reduce the value of your estate for inheritance tax purposes
- fund home improvements
- help your children financially
What is the Equity Release process?
The main steps of the equity release process are as follows:
- After you have taken independent financial advice, we will take your instructions including how you came to the decision that an Equity Release mortgage is the right choice for you
- After receiving the offer from your Lender, we will advise you on the terms and effect of taking out the mortgage
- We will deal with your Lender’s legal representatives, addressing any issues that may arise
- When it is clear that you are certain you wish to proceed and, when the Lender’s requirements are met, we will arrange for completion to take place
- We will receive the funds from your Lender and then pay those to you
- We will keep you updated throughout the matter and, with your consent, we will also keep your financial adviser fully appraised of progress
Cost of Equity Release?
We offer fixed fees meaning that you will always have the peace of mind that regardless of the time we spend on your matter the cost will not increase. Please contact us here for a detailed estimate.