Equity release – conveyancing

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.

Eleanor Burroughs, Saffron Walden
Eleanor Burroughs, conveyancing solicitors in Saffron Walden | Tees Law

Equity release – conveyancing

Within the Tees Equity Release Department, we have specialists in Equity release conveyancing who can 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 assists in the smooth completion of cases by other departments as and when needed, such as the Later Life Planning DepartmentTrusts & Estates Department, Family Department and many others.

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What is the conveyancing solicitor’s role?

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’.

We Will:

  • check your identity, (to comply with Money Laundering Regulations). 
  • meet with you face to face as required by standards set out by the Equity release council before you take out an equity release plan.
  • ensure that all your property paperwork is in place. (such as checking your title deeds, or that you have adequate buildings insurance in place).
  • If you are paying off your existing mortgage with your equity release funds, we will also take care of that for you.
  • Finally, we will agree your completion date with your lender and arrange for the transfer of the money to your bank account.

What to do next

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.

Call our specialist solicitors on 0808 231 1320

Equity release - frequently asked questions

What is equity release?

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.

Is equity release a good idea?

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.

Do you have to pay back equity release?

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.

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