Health conditions could help you borrow more money. One of these standards is that you must have at least one face-to-face meeting with an independent solicitor before taking out an equity release plan. Income plans allow you to supplement your retirement income. We are still available and booking appointments over telephone and video conference. But if you prefer to find your own, you should do this once your application has been submitted to the lender. Equity Release plans – an overview. They make monthly payments direct to your bank account to spend as you wish. We offer remote meetings by telephone or video conferencing software such as Zoom, Skype and Facetime if required. Equity Release Council (ERC) rules stipulate that your solicitor must be independent to the lender’s solicitor and under Equity Release Council rules you must have at least one face-to-face meeting with your solicitor. Equity release is like a mortgage in reverse for people aged 55 or over. What should you be thinking about before taking the next step? The product providers have their own separate legal representation in the transaction – their legal representative’s role will be primarily to ensure that the provider is able to secure a first legal charge over the property on which the loan is being taken out. Equity Release Specialist Equity Release Solicitors in Manchester and London Equity release can allow you to sell part of your property, giving you a lump sum or a regular income, whilst still allowing you to live there until you sell the property or pass away. is rated When considering an equity release plan we recommend customers talk to a specialist member of the Equity Release Council. Learn how these lifetime mortgages work. Equity release is an option increasingly favoured by those aged over 55 years old (with property worth at least £50,000). It’s important to note though that your solicitor can’t give you any financial advice and help you decide which plan is right for you. You could be eligible for equity release, if you: Learn how they work. We are pleased to be able to … Equity release may not be your only solution. Find out here if equity release is right for you. Learn what they are. We need your correct email address and telephone number so that we can answer your question. Church Lane Thornby Independent legal advice is one of the key features of the Council’s. Please read our Privacy Policy for At Equity Release Supermarket, we are long-standing members of the Equity Release Council, or ERC (the industry’s governing body), which means that we meet the high standards the Council sets out and have vast experience in advising our clients on what they need to do during the equity release process. ... Authorised & Regulated by Solicitors Regulation Authority (No. The ERSA is a group of established law firms specialising in equity release and was formed to promote the importance of specialist legal advice when considering equity release plans. Which is why we recommend using our panel of solicitors. Find out how much money you could save your estate by making ad-hoc payments to reduce your final balance. If you are interested in using a solicitor from our panel, you will find fixed fees starting from £695+VAT. Find out how much money you could release with a drawdown lifetime mortgage. With the cost of living stretching the majority of household budgets, equity release can be a valuable funding tool. If however, you have your own solicitor, you are free to use them and are in no way obliged to use our panel. A flexible cash reserve allows you to receive money in smaller amounts. Understand what they are and how much you can borrow. This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. Many factors determine the size of your equity release loan. We recognise the importance of providing value-for-money and securing the best deals for our clients, which is why we don’t charge any upfront fees for starting an application. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. If you choose to use our panel of solicitors, then we take care of instructing them for you. If you are coming up to retirement age and want to release equity from your home, Forbes expert solicitors specialising in equity release can help you. Your Equity Release Supermarket adviser is on hand to arrange this for you. Learn how they work. The Old Rectory If you would like to know about the legal process involved in Equity Release or are considering undertaking the same and would like a quote or to instruct us, then please contact our Equity Release Team on 01892 824 577 or on pembury@burtons-solicitors.com. At Equity Release Supermarket, we offer access to our own expert panel of solicitors who are recognised for their specialist knowledge. If you are 55 or over, this can give access to … They'll take care of all the legal work on your behalf and make sure everything is in order up until your money is released. Ashfords' Equity Release Department offers a wealth of experience and has been specialising in equity release for over 17 years and is at the forefront of the sector. Equity release plans are a way of releasing cash, whether to buy a new car, to pay for a holiday or home improvements, or simply to make daily life more comfortable. It is a key criterion for those Equity Release providers who are members of the Equity Release Council that both they and the customer have separate legal representation. 1286 reviews, We use cookies to offer the best website experience. Equity Release Lawyers is a trading style of Ormrods Solicitors & Advocates Ltd. Ormrods Solicitors & Advocates Ltd: Registered in England & Wales No. They will also have in place streamlined systems which help with a speedy completion. You are able to unsubscribe and so not Find out the maximum amount of money you could borrow with equity release. Advising on how to use equity release; If you’d like to discuss your equity release with our qualified solicitors, simply call the friendly Trethowans team today on 0800 2800 421 or complete and submit our online contact form and we will be in touch shortly. There are protections and safeguards in place to ensure that equity release is safe. 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