We provide specialist advice and guidance on lifetime mortgages, reversion plans and home income plans – so you can be assured you’ve made the very best choice. Already have a lifetime mortgage? 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. Equity Release Solicitors - Liverpool Equity release gives you the opportunity to release funds from your property while continuing to live there. Why is it important to have expert financial advice when taking out an equity release plan? Church Lane Thornby Your Equity Release Supermarket adviser is on hand to arrange this for you. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. If you are looking to boost your retirement income so you can enjoy life to the full, you may be considering an equity release mortgage. Using one of our panel solicitors also allows our dedicated case coordinators access to the solicitors online systems we have in place with them. CORONAVIRUS / COVID-19: We are continuing to provide a full service. This helps to manage any issues quickly and complete the legal aspects of taking out equity release as efficiently as possible. As you are reading this article, chances are you already know a thing or two about equity release and want to flesh out the finer details. ©2020 Equity Release Council. Understand what they are and how much you can borrow. Learn how they work. This includes things such as checking your title deeds, or that you have adequate buildings insurance in place. By Mark Gregory on the 29th September 2020. Equity release is like a mortgage in reverse for people aged 55 or over. That’s why you need financial advice from an independent, whole of market, specialist adviser – such as one from Equity Release Supermarket - who will search every plan that’s available and find the right one for you. receive any more emails or calls from us at any time. Helps you understand how much money could be left as an inheritance when your lifetime mortgage ends. But if you prefer to find your own, you should do this once your application has been submitted to the lender. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. NN6 8SN. Ashfords is one of the co-founders of the Equity Release Solicitors Alliance, an alliance of specialist equity release solicitors who adhere to a strict code of conduct. is rated The Old Rectory Working within our wider residential conveyancing team, our equity release lawyers can: explain the terms on which an equity release product is being offered to you; confirm the amount of money you can expect to receive and when; Many factors determine the size of your equity release loan. We can suggest a panel of expert independent equity release solicitors. A flexible cash reserve allows you to receive money in smaller amounts. ERSA is unbiased and offers a fixed fee service wherever clients live … These schemes allow you to borrow money against the value of your home, with the debt being repaid from the sale proceeds after your death. Mortgages that continue into retirement based on income and affordability. Want to talk more about choosing an equity release solicitor? You can read all about the role of your solicitor here. What should you be thinking about before taking the next step? Learn all about equity release. 5 by Feefo.com based on When considering an equity release plan we recommend customers talk to a specialist member of the Equity Release Council. Equity Release Group - one of the UK's leading equity release advisers based Ashton-under-Lyne, Manchester. Find out the maximum amount of money you could borrow with equity release. They make monthly payments direct to your bank account to spend as you wish. As we’ve previously mentioned, they must meet with you face to face and so often your solicitor will check your ID documents during this meeting. Website: www.ersalaw.co.uk. ERSA is a portal to allow all homeowners to gain access to independent, specialist solicitors to guide them through the equity release process. Your equity release advice solicitors in Cornwall and Devon. Ashfords are one of the largest specialist equity release solicitors in the UK and advise thousands of clients every single year. Our equity release solicitors are able to offer this service at a fixed fee of £650 plus VAT, for more information contact us on 01616 966 229 for a … There are two types of solicitor involved in the progression of an Equity Release loan. If so, you’ve come to the right place. Equity Release Solicitors: What They Do and Why They’re Essential. To help answer some of the most common questions surrounding equity release solicitors and their involvement in the process, we’ve compiled the following FAQs. 636644) Find out how much money you could borrow when taking out a lifetime mortgage against your buy-to-let property. Many people find Equity Release or Lifetime Mortgages an effective way of generating readily accessible capital from their home. Learn more here. This equity release scheme involves selling a percentage of your home. Equity release is an option increasingly favoured by those aged over 55 years old (with property worth at least £50,000). As you are reading this article, chances are you already know a thing or two about equity release and want to flesh out the finer details. Find out the maximum you could borrow with a retirement interest only mortgage (RIO) – a residential mortgage, based on income that allows you to borrow on an open - ended basis into retirement. Income periods of between 10 - 25 years are available to meet your retirement income needs. 4.9 out of Find out here if equity release is right for you. 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. If you are over 55 years of age and your property is valued at over £50,000, then equity release may be for you. Our team at GloverPriest has considerable experience property law, and lawyers specialising in equity release who can advise you on all of the legal implications of the various equity release plans available on the market. Find out more Find out more; FAQs FAQs; Income. If you choose to use our panel of solicitors, then we take care of instructing them for you. View Cookies Policy, Equity Release Solicitors: What They Do and Why They’re Essential. Coodes Solicitors is the only law firm in Cornwall that is a member of the Equity Release Council. Equity Release Supermarket If you are paying off your existing mortgage with your equity release funds, your solicitor will also take care of that for you. Another important part of the process is that you also have independent legal advice. 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. We are Independent Financial Advisers and a group of solicitors in Greater Manchester who have created this network to provide independent advice on arranging Equity Release products and the associated legal work. You borrow money against the value of your property but can still live there until you die or move to a care home. Advisers Solicitors Providers Associates Affiliates Solicitors. You are able to unsubscribe and so not Learn more about the various types of later life lending plans available to homeowners over the age of 55. By continuing to use the site you are agreeing to our use of cookies. EQUITY RELEASE SOLICITORS ALLIANCE. Equity Release Solicitors. 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. We need your correct email address and telephone number so that we can answer your question. Please contact the Equity Release Supermarket team on Freephone 0800 802 1051 or email [email protected]. Your solicitor plays an important role in the process and they get involved once your lender has written to you to say ‘yes’ – they would like to lend you the money – which is called a ‘formal offer’. Solicitor’s offers a fixed fee for basic equity release re-mortgage cases Solicitor’s offer unencumbered, purchase cases and re-mortgages into joint names Solicitors panel covers a wide area over the UK Marketing allowance payable please refer to club 0121 296 9987 Equity release is a way of accessing the money which is secured in your property. Equity release products have become increasingly popular as more people are living longer and face an uncertain financial position in retirement due to falling pension income and low savings returns. 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. Learn how home reversion schemes work here. It is available to those over the age of 55. 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. There are protections and safeguards in place to ensure that equity release is safe. 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. If the equity in your property is likely to be inherited by your children or relatives in future, you may wish to consult with them before entering into an equity release scheme. Plus, they are all members of the ERSA, expert in the field of equity release and will always aim to ensure that you get your money as quickly as possible. 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 … We provide an efficient, quick and cost-effective service to enable people to release equity from their home, for a simple fixed fee. If so, you’ve come to the right place. Learn how these lifetime mortgages work. If you do choose an external practitioner, we would advise only consulting with a solicitor who is a member of ERSA (Equity Release Solicitors Alliance). Lifetime mortgage where regular interest repayments help control the final balance to be repaid. Allows your client to release the money in their home to provide them with a regular monthly income for a fixed term. 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. Ashfords Equity release processing is based in Exeter, and they have offices throughout the south of England. They then ensure that all your property paperwork is in place. If, on the other hand, you decide to use an external equity release solicitor, you will find that legal fees can vary significantly across the market and are typically up to £995. If you are in any doubt, feel free to get in touch with our friendly team, who will be happy to point you in the right direction. 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. Our team of solicitors specialise in equity release and can help you with every step of the equity release process. Many firms listed as offering face-to-face advice are offering telephone advice and video calls during the pandemic. RIO Mortgages continue into retirement based on income and affordability. The most popular equity release scheme. You must be over 55 and a homeowner. We are still available and booking appointments over telephone and video conference. Find out what’s involved and how long it takes. Find out how much money you could save your estate by making ad-hoc payments to reduce your final balance. Learn more here. Which is why we recommend using our panel of solicitors. Please check with the individual firm. 1286 reviews, We use cookies to offer the best website experience. Information and qualifying criteria on these lifetime mortgages here. Battrick Clark Solicitors of Bristol are available to provide you with the best legal advice and assistance when considering or entering into any equity release or lifetime mortgage scheme. Your Equity Release adviser may be able to suggest local Law firms that they know are both active & experienced in Equity Release. It works well for those who don’t wish to downsize but would like some more cash, perhaps for retirement, as it can supplement your pension income. You could be eligible for equity release, if you: Equity Release Solicitors in Fareham There are many pros and cons to releasing equity in your home and whether you are looking for an injection of funds to help your children onto the property ladder, to develop for your property, or for your retirement, it is important that you know all of the facts before committing. If you are 55 or over, this can give access to … Whether you plan to spend the money on yourself, your home or your children, Bank View Solicitors can help you achieve your goal. 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. 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. This means that we can quickly identify any issues that may arise in processing your application. The many alternative options available to you are discussed here. Taking out an equity release plan is a big step and so it’s vital that you have expert impartial financial advice. Firstly, they must check your identity, (to comply with Money Laundering Regulations). Our lifestyle calculator will advise how much you could release. Gilroy Steel Solicitors, has been providing Equity Release legal services for over 20 years and are considered the leading firm nationally. Make ad-hoc repayments which can help manage your final balance to be repaid. At Equity Release Supermarket we couldn’t agree more and so won’t advise you on an equity release plan unless you’ve also seen a solicitor. 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. What is the equity release process? Finally, they will agree your completion date with your lender and arrange for the transfer of the money to your bank account. We offer remote meetings by telephone or video conferencing software such as Zoom, Skype and Facetime if required. Equity Release plans – an overview. Find out how much money you could potentially release with an interest-only lifetime mortgage. Independent legal advice is one of the key features of the Council’s. At Equity Release Supermarket, we offer access to our own expert panel of solicitors who are recognised for their specialist knowledge. 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. Equity Release Mortgages are growing in popularity. We won't share your details with other companies. Health conditions can improve the offer from your lender. Using our panel can also help to speed up the process, as we have online access to case management systems at certain solicitors. If you are interested in using a solicitor from our panel, you will find fixed fees starting from £695+VAT. Please read our Privacy Policy for Free to use, equity release calculator range. For homeowners over 55 that want to access the money tied up in their home. Health conditions could help you borrow more money. So much so that it is part of the Equity Release Council’s ‘rules and regulations’. Equity release may not be your only solution. Equity Release Lawyers is a trading style of Ormrods Solicitors & Advocates Ltd. Ormrods Solicitors & Advocates Ltd: Registered in England & Wales No. 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. 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