The Typical Process- Decide after reviewing the information on this site if Equity Release is the right solution for you.
- Decide if you want a lifetime mortgage or a home reversion plan.
- Decide if you want a lump sum, income or both.
- Decide if you want to take the full amount now or take it as and when you need it.
- Talk to your family.
- If you receive State benefits check with the benefits agency to see if the type of plan you are considering will affect your eligibility for these benefits or we can do this on your behalf.
- If you need money for home improvements, you may be eligible to raise the funds via a local authority grant instead.
- Consult an Independent Financial Adviser to research the most suitable recommendation for your needs and circumstances.
- Appoint a legal advise, we can provide you with a list of suitable solicitors if you wish.
- An independent valuation will be carried out on your property.
- Your solicitor will ensure and confirm you fully understand the terms of the plan. Legal documents are then completed.
- The plan is now complete, and the money paid via your solicitor.
Depending on your understandings of these plans can affect how long the whole process may take. We prefer our clients to take their time in making the right decision as this is a long term plan and should not be taken lightly. Our advisors at Equity Release Solutions are here to answer any questions you may have. |
