Equity release gives you the opportunity to release funds from your property while continuing to live there. With the cost of living stretching the majority of household budgets, equity release can be a valuable funding tool.
The GW team includes several specialised equity release lawyers. In fact, GW is a founding member of the Equity Release Solicitor Alliance (ERSA).
What also sets us apart from other solicitors is that we offer a unique home visit service.
It is compulsory to meet with a solicitor or suitably qualified equity release lawyer at least once during the process of equity release. While most will expect you to come to them, we don’t (and at no extra cost)!
What is equity release and how does it work?
Equity release is a way of releasing the wealth tied up in your property without having to sell it and move to another home. You can either borrow against the value of your home or sell all or part of it in exchange for a lump sum or a regular monthly income.
What is an equity release scheme?
There are two main types of equity release: Lifetime Mortgages and Home Reversion plans. We can explain.
How much does equity release cost?
You will not have to pay back any of this money until your plan comes to an end and your property is sold or you choose to repay the loan.
How much interest do you pay on equity release?
The rate of interest that will be charged on your loan will either be fixed, or it will be variable, in which case there will be a “cap” on the amount that can be charged at any time.
Is equity release right for me?
That depends on your personal circumstances. It is important to fully consider your options and receive independent financial advice before making a decision.
Why is equity release increasing in popularity?
It is a way to release funds while remaining in your own home.
A specialist property lawyer, Richard joined the firm in 2003 and heads the Equity Release team, advising thousands of clients each year on releasing equity from their homes to support them in retirement.