Equity Release
What is an Equity Release?
An equity release is a financial arrangement that allows homeowners to access the equity tied up in their property while continuing to live in it, usually through a lifetime mortgage or home reversion plan.
What work we will undertake for you?
In an equity release, we will guide you through the legal process of accessing the equity in your property, which involves reviewing and preparing the necessary documents, ensuring compliance with regulatory requirements, and liaising with the equity release provider to finalise the arrangement.
Work expected to be carried out in this transaction but not included.
In an equity release, work that might be expected but not typically included by a solicitor could involve providing detailed financial advice on the long-term implications of the equity release, negotiating terms with the equity release provider, advising on alternative financial products, or handling any disputes with family members or other stakeholders regarding the decision to release equity. These tasks often require additional expertise or services beyond the standard legal process of executing the equity release arrangement.
Time frame
The timeframe for completing a remortgage in the UK typically ranges from six to eight weeks.
Fees
The fee for a standard Equity Release is £650.00 + VAT (£780.00 inc VAT)
*These fees could increase if the complexity of the matter turns out to be above the standard conveyancing procedure. We will discuss, if relevant, any increase in fee with you prior to undertaking additional work. Additional work will be carried out at our standard rates.
Matter Specific Disbursements
None
General Disbursements
For more information about general disbursements listed below and their cost please click on the "General Disbursements" button below:
Identification of client.
Telegraphic Transfer fee.
Office Copy Entries
Fee Earners
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