Equity Release Law

Equity Release Law

Our panel of carefully selected Specialist Solicitors are always here to support and assist when needed.

What is Equity Release?

Equity Release refers to financial products that allow homeowners, typically those aged 55 and older, to access the equity tied up in their property while continuing to live in it.

The two main types of equity release schemes are lifetime mortgages and home reversion plans. Releasing equity can have long term implications.

Our panel of specialist lawyers can advise you on your options and how best to protect you for the future.

Types of Equity Release:

Lifetime Mortgages:

• This is the most common form of equity release.
• Homeowners can borrow a lump sum or receive regular income, with interest accumulating on the loan.
• The loan is repaid, along with accumulated interest, when the homeowner dies or moves into long-term care.
• The amount owed can significantly increase over time due to compound interest.

Home Reversion Plans:

• Involves selling a portion or all of the property to a provider in exchange for a lump sum or regular payments.
• Homeowners retain the right to live in the property rent-free until death or moving into care.
• The property is sold when the homeowner passes away, and the proceeds are divided according to the ownership share.

What our lawyers can assist you with:

• Regulation
• Safeguards
• Impact on Means-Tested Benefits
• Inheritance Considerations
• Interest Rates and Costs

Find out how our panel of Specialist Solicitors can assist you.