Equity Release Advice
Equity release is an agreement between a homeowner usually aged 55 or over, and an equity release provider, which allows the homeowner to unlock the money tied up in their home. The money is able to be taken tax-free and helps the homeowner to enjoy their later years.
Equity Release Schemes can be a minefield and need careful consideration in relation to the implications for reducing the level of equity in your home as this will have an impact on the value of your Estate following your death, and it can impact on your receipt of certain benefits.
There are two different types of Equity Release; The Lifetime Mortgage and the Home Reversion Scheme, both of which have pro’s and con’s depending on your individual circumstances.
Paul Crowley & Co’s experienced Equity Release Solicitors can provide expert advice on the terms of the equity release scheme, ensuring that you fully understand the implications these terms will have for you during the term of the scheme, and the impact upon your estate once you have passed on.
At Paul Crowley & Co we consider ourselves to be a responsible firm of Solicitors and therefore we will only accept instructions to act for you if your offer for Equity Release has been made by a SHIP (Safe Homes Income Plan) Accredited equity release provider. For more information on the SHIP Code of Conduct which accredited equity release providers agree to abide by, visit www.ship-ltd.org.