What is Equity Release?
Equity release is commonly used by individuals who wish to raise funds secured upon their property, without the need to repay the loan, whilst continuing to reside at the property. The intention here is for the funds to be repaid, together with interest and charges, when you dispose of the property or die.
There are many versions of Equity Release some of which involve transferring the legal title at the outset. Other schemes impose restrictions on your use of the property and obligations concerning its upkeep. It is important you are advised as to the amount of reduction in the value of the Equity in the property, due to you or your family, as schemes for Equity Release vary considerably as to cost.
Our Equity Release Service
We are experienced in providing the essential legal expertise you will need before entering into arrangements for “Equity Release”.
We provide an efficient and friendly service and are able to advise in the following areas: –
- Legal implications of Equity Release and reversal arrangements should these be required at any stage.
- Buying & Selling property using Equity Release or the transfer of an existing Equity Release plan to a new property.
- Extending your lease or buying your freehold with Equity Release.
Our standard fee for this work is £650 + disbursements and VAT.
Call our specialist Conveyancing Solicitors now on 0844 800 9860 for a free telephone consultation or request a call back through this website.