Tees are experienced in helping clients entering into equity release lifetime mortgages and offer comprehensive advice to ensure clients fully understand the products they are entering into and the benefits and risks of a chosen product.
Within Tees Equity Release Department, we have specialists in Equity release conveyancing who are able to assist in buying and selling using equity release to finance the move or in transferring an existing scheme to a different property.
Being part of a full-service law firm benefits the Equity Release Department which is assisted in the smooth completion of cases by other departments as and when needed, such as the Later life planning Department, Trusts & Estates Department, Family Department and many others.
Tees conveyancing solicitors play 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’.
Equity release is a big step, and our experts will help you decide if it's right for you. We'll look at the big picture, and come up with a strategy that really works for you.
Our specialist lawyers are based in:
But we can help you wherever you are in England and Wales.
Equity release enables homeowners aged 55 and over to access tax-free cash from their home value. The amount is determined by the homeowner's age and home value. Options include a lump sum or a series of smaller lump sums, depending on the product selected.
Equity release isn't suitable for everyone, just like other financial products. However, it can be beneficial for some individuals by releasing the money locked in their property, such as for home renovations, gifting to family, or paying off debts. Consider carefully before using your home to secure additional debts.
Equity release plans must be repaid upon the death of the last borrower or if the borrower enters long-term care. Early repayment is possible but may incur an Early Repayment Charge (ERC) penalty.
Solicitor, Residential Property
Bishop's Stortford office
Senior Associate, Residential Property
Royston office
Senior Associate, Residential Property
Chelmsford office
Associate, Residential Property
Bishop's Stortford office
Copyright © 2023 Tees Law. All rights reserved.