equity release solicitors

Learn how these lifetime mortgages work. Many people find Equity Release or Lifetime Mortgages an effective way of generating readily accessible capital from their home. If however, you have your own solicitor, you are free to use them and are in no way obliged to use our panel. Equity Release Solicitors. We can suggest a panel of expert independent 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. 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. You could release money from your buy-to-let investment portfolio. 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. Many factors determine the size of your equity release loan. What is Equity Release and how does it work? We are still available and booking appointments over telephone and video conference. 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. Free to use, equity release calculator range. Find out the maximum amount of money you could borrow with equity release. In addition, we also provide a ‘No Completion – No Advice Charge’ agreement to all our clients, which complements the same deal offered by our panel of equity release solicitors. Equity release is a way of accessing the money which is secured in your property. Make ad-hoc repayments which can help manage your final balance to be repaid. Independent legal advice is one of the key features of the Council’s. 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. Our team of solicitors specialise in equity release and can help you with every step of the equity release process. Website: www.ersalaw.co.uk. Many firms listed as offering face-to-face advice are offering telephone advice and video calls during the pandemic. Learn how you could borrow more, or lower your rate here. Using a member of the ERSA ensures that you’ll receive full and balanced independent advice while benefiting from competitive fees. 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. They will also have in place streamlined systems which help with a speedy completion. All of our members have agreed to abide by the Council rules and have signed up to the Statement of Principles. Discover how much money you could release across all the available equity release plans. If you need to free up some money to make your life easier, equity release can be a good way to improve your financial circumstances. They make monthly payments direct to your bank account to spend as you wish. It is a key criterion for those Equity Release providers who are members of the Equity Release Council that both they and … There are protections and safeguards in place to ensure that equity release is safe. When considering an equity release plan we recommend customers talk to a specialist member of the Equity Release Council. Advisers Solicitors Providers Associates Affiliates Solicitors. Ashfords are one of the largest specialist equity release solicitors in the UK and advise thousands of clients every single year. Learn more about the various types of later life lending plans available to homeowners over the age of 55. is rated What should you be thinking about before taking the next step? 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. 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’. It also has a charter guaranteeing that it will provide the best legal advice. 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. We provide an efficient, quick and cost-effective service to enable people to release equity from their home, for a simple fixed fee. Our lifestyle calculator will advise how much you could release. 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. The many alternative options available to you are discussed here. 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. 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. If you are interested in using a solicitor from our panel, you will find fixed fees starting from £695+VAT. Equity Release Solicitors - Liverpool Equity release gives you the opportunity to release funds from your property while continuing to live there. Find out more Find out more; FAQs FAQs; Income. 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; Income plans allow you to supplement your retirement income. 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. Find out how much money you could release with a drawdown lifetime mortgage. Find out what you could potentially save by switching to a new plan. If so, you’ve come to the right place. EQUITY RELEASE SOLICITORS ALLIANCE. Equity release is an option increasingly favoured by those aged over 55 years old (with property worth at least £50,000). 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. If you are over 55 years of age and your property is valued at over £50,000, then equity release may be for you. Equity Release plans – an overview. There are two types of solicitor involved in the progression of an Equity Release loan. Equity release is like a mortgage in reverse for people aged 55 or over. The Old Rectory 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 Lifetime mortgages that allow you to release tax-free cash as a single lump sum payment. There are two types of solicitor involved in the progression of an Equity Release loan. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. 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. 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. 5 by Feefo.com based on Income periods of between 10 - 25 years are available to meet your retirement income needs. We won't share your details with other companies. You must be over 55 and a homeowner. But if you prefer to find your own, you should do this once your application has been submitted to the lender. 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 … Why is it important to have expert financial advice when taking out an equity release plan? Learn how these lifetime mortgages work. further details. Equity Release Supermarket 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. The most popular equity release scheme. 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 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. Talk to Humphries Kirk Equity Release solicitors today. Learn all about equity release. This means that we can quickly identify any issues that may arise in processing your application. If you are 55 or over, this can give access to … For homeowners over 55 that want to access the money tied up in their home. Learn how they work. 07068648 This firm is authorised and regulated by the Solicitors Regulation Authority: No 520801 VAT Number : 823523380 Directors: Geoffrey G Ormrod, Michael W Penny & Sharif Ela Equity release services. Please check with the individual firm. If you are paying off your existing mortgage with your equity release funds, your solicitor will also take care of that for you. RIO Mortgages continue into retirement based on income and affordability. 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. Whether you plan to spend the money on yourself, your home or your children, Bank View Solicitors can help you achieve your goal. Information and qualifying criteria on these lifetime mortgages here. 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 may not be your only solution. With truly national coverage, wherever you are in England and Wales our dedicated teams of solicitors will visit you at home. Lifetime mortgage where regular interest repayments help control the final balance to be repaid. ERSA is a portal to allow all homeowners to gain access to independent, specialist solicitors to guide them through the equity release process. receive any more emails or calls from us at any time. Require monthly interest only repayments. For the homeowner, the role of their solicitor is to ensure that they understand the long-term nature of an equity release contract and proceed with full knowledge of the risks and rewards, as well as the legal obligations of the plan. At Equity Release Supermarket, we offer access to our own expert panel of solicitors who are recognised for their specialist knowledge. By continuing to use the site you are agreeing to our use of cookies. Understand what they are and how much you can borrow. 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. You could be eligible for equity release, if you: Equity Release Group - one of the UK's leading equity release advisers based Ashton-under-Lyne, Manchester. Mortgages that continue into retirement based on income and affordability. ... 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. You borrow money against the value of your property but can still live there until you die or move to a care home. You can read all about the role of your solicitor here. More details here. 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. ERSA is unbiased and offers a fixed fee service wherever clients live … Church Lane Thornby 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. ©2020 Equity Release Council. Allows your client to release the money in their home to provide them with a regular monthly income for a fixed term. So much so that it is part of the Equity Release Council’s ‘rules and regulations’. Want to talk more about choosing an equity release solicitor? Using one of our panel solicitors also allows our dedicated case coordinators access to the solicitors online systems we have in place with them. Equity Release Mortgages are growing in popularity. Gilroy Steel Solicitors, has been providing Equity Release legal services for over 20 years and are considered the leading firm nationally. 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). 1286 reviews, We use cookies to offer the best website experience. To your bank account lower your rate here the role of your plan have in streamlined! Protected ] of experience release capital from your property but can still live there until you die or to... And advise thousands of clients every single year national coverage, wherever you are interested in using a of... 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