An equity release mortgage (also known as a lifetime mortgage) is a special type of loan, which is regulated by the Financial Conduct Authority and is designed to run for the rest of your life. It allows you to borrow money secured against your home to give you a lump sum, or a regular income, whilst allowing you to retain the use of your home or property.
Many view equity release as an opportunity to have a more comfortable retirement, afford home improvements, pay off personal debt or help other family members financially.
We have helped our clients complete on their equity release scheme and navigate them through the terms and conditions of their agreement. You normally need to be at least 55 years old and it is important to understand what is involved, including the differences between the main types of scheme – lifetime mortgage and home reversion.
How we can help
We will guide you through the terms of your equity release agreement and help you understand what it means for you, and for your family in the future.
A lifetime mortgage scheme usually provides for the cash sum or instalments, and any interest accrued, to be repaid from your estate after your death. Whilst a home reversion plan involves selling your home, or part of it, upfront to the scheme provider – who then allows you to stay in your property rent-free for the remainder of your lifetime or until you move into care.
We will help you understand what your obligations will be under the scheme you choose, and also the implications for your future estate and what you might have left available to pass on to your family or beneficiaries.
Transfer of Equity
A transfer of equity is a transaction where legal ownership of a property changes hands.
Our property experts can help you when a change of circumstances requires a person(s) to be added or removed from a title.
Law Society accredited
The Law Society awards accreditations to legal practices and solicitors who meet the highest standards of technical expertise and client service in specific areas of law. We are members of their Conveyancing Quality Scheme (CQS), which is the recognised quality mark for legal experts in buying or selling property, and is trusted by some of the UK’s biggest lenders.
Our client commitment
We are proud to hold national accreditation from both The Law Society and the Customer Service Excellence Quality Mark for our commitment to client care.
Across all our practice areas, we aim to provide high quality service to our clients and value their constructive feedback throughout our time working together, helping us to continually improve and maintain the high standards we set ourselves.
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Our team were very efficient and helpful. We could always speak to someone in our team. They were very professional and made the experience less stressful. ”
Our residential property team
