My objective is to find the right solution for you, there is no obligation to proceed and if equity release isn’t your best option I’ll let you know. The following is a step by step process of releasing equity from your home.
My clients often start by researching equity release online to find out as much as possible about how it works and what the options are. Please take a look at the FAQ section to help with your research.
Advice is mandatory for equity release, I will undertake a fact find appointment with you to check whether you qualify for equity release and to determine if equity release is the right solution for your needs.
After I’ve gathered the relevant information I then spend time researching the plans available across the whole of the market to find the best solution available to suit your personal circumstances.
I will issue you with a recommendation, talk you through the reasons why a plan has been recommended and provide you with a personalised illustration, which explains the features and benefits of the plan.
If you are happy to proceed an application will be submitted it to the plan provider.
Before equity release can proceed your property must be inspected, a surveyor is appointed to value the property and check it qualifies for the lenders offer terms. The provider will then issue a formal offer including full terms and conditions.
Independent solicitors acting on your behalf will cover any legal aspects. The role of the solicitor is to ensure you understand the long-term nature of an equity release contract so you can proceed with full knowledge of the risks and rewards.
Typically, equity release can take between 6 – 8 weeks from application to completion stage. Once completed you can enjoy the money you have released!
To find out how much you could release try my free equity release calculator. You don’t need to provide contact details or speak to an advisor, just a few clicks and you’re done.
Advice is required to proceed with equity release and there may be other options which better suit your circumstances. Equity release may involve a home reversion plan or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care. To understand the features and risks, ask for a personalised illustration. Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.
We’re here to help you decide if releasing equity could get the things you want out of later life.