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      Equity Release


      What is Equity Release?

      Releasing equity in your property is a process which allows you to access the value, the equity, you hold in your property without having to sell it.  In practice it means borrowing against your own property, usually in exchange for a regular repayment.  If you want to release funds from your property via a release of equity then you’ll need specialist advice, including the assistance of a solicitor for the necessary legal steps involved in contracting with an equity release provider.


      Types of Equity Release

      There are most commonly two types of equity release.  These are lifetime mortgages and home reversion plans.  Both situations involve you receiving a payment relating to the value you hold in your property.  This could either be a lump some payment or a recurring income, or a combination of both.   In all types of equity release you will be entitled to continue to live in your property indefinitely.


      Lifetime Mortgages

      Lifetime mortgages are the most common option that people choose.  This involves taking out a loan against your property which will either be paid by your estate after you have passed away, or if you need to move into care.

      Interest on lifetime mortgages is dealt with in a variety of ways.  It could be that it will be added to the amount owed at the end of the arrangement, or that you will make partial, or full interest payments, on a monthly schedule.  This makes lifetime mortgages a flexible option.

      Protection is available should the housing market adjust such that the property is valued at less than your loan.  This is known as a negative equity guarantee and protects you from a shortfall.


      Home Reversion Plans

      Home reversion plans allow you to sell part, or all, of your property.  In exchange for this you could either receive a one-off lump sum payment, or recurring payments.  Once the end of the agreement is reached the property will be sold and proceeds of sell will be distributed based on the proportional ownership that your equity release created.  As with lifetime mortgages protection against negative equity will ensure you, or your estate is not liable for a shortfall.


      When to consider equity release?

      Equity release might be the right option for you depending on your personal circumstances.  It is a commonly employed financial tactic in many situations.  This includes utilising equity in your home as a pension supplement, to account for cost of living changes or to clear debt, to name a few reasons someone might consider equity release.


      Why do I need a solicitor for equity release?

      As with all areas of conveyancing the specifics of the contract and contractual obligations are important.  Our expert team will ensure that you are given the advice you need on all areas of your contract and are fully aware of each side’s contractual obligations.

      How to get in touch

      If you’re considering equity release for any reason our expert conveyancing team can assist you through the process.  We encourage all of our clients to get in touch so that we can explain the services we can offer in more detail.

      You can do this by calling our head office on 01709 363876, contacting us through this website or by e-mailing us at



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