Equity release is an option increasingly favoured by those aged over 55 years old (with property worth at least £50,000).
Equity release may allow you to make home improvements, travel, help your children financially and improve your standard of living generally.
Most providers will only accept people over the age of 55. There are two main types of equity releases to choose from:
- Lifetime mortgage – a mortgage is taken out on your home in a similar way to a normal mortgage. You can then either make regular payments or, more usually, choose to have the interest rolled up into the loan amount.
- Home reversion – you sell a share or the entirety of your property to an equity release provider subject to you being allowed to continue living there rent-free until you die or move permanently into a care home.
We will handle the entirety of your equity release transaction on your behalf, acting efficiently and without delay, so you don’t have to put your life on hold or go through any unnecessary stress. Our expertise includes:
- Advising on the types of equity release
- Liaising with your equity release provider and current mortgage lender or lenders Solicitors (if necessary).
- Reviewing the provider’s terms and explaining these and any associated costs to you
- Completing the necessary legal documentation
- Liaising with HM Land Registry in relation to the property transfer or the provider’s legal charge (if necessary).
We are not financial advisors and cannot advise on the suitability of a particular product for your needs. You should therefore also ensure that you seek financial advice to ensure that the product you choose is the best available option.
Misbha Ali has completed numerous equity release schemes for clients and has the necessary experience to conduct the legalities involved. We have a strong presence within our local communities across Middlesex.
Contact our Equity Releases solicitors in Ruislip, Middlesex
Although we have a number of specialisms, we particularly excel in conveyancing, so feel free to contact us on 0208 866 6464 All our solicitors are experts in their field and can provide pragmatic advice and excellent client care across all property transaction matters.