Equity Release
Have you considered releasing equity in your home to help you with home improvements, help your children financially, or improve your living standard?
You could be eligible for equity release if you are over 55 years old with a property worth at least £50,000. Taylor Bracewell has a specialist team of conveyancing solicitors who can advise you on this subject. We have completed many equity release schemes for clients and have the necessary experience to conduct the legalities.
What types of equity release are there?
There are two main types of equity release:
Lifetime mortgage – With a lifetime mortgage, you have no monthly payments to make, but the interest rolls up daily, monthly or annually and is added to the mortgage debt. The mortgage is repaid when you die or vacate the property due to ill health or voluntarily.
Home reversion scheme – A home reversion scheme is where you agree to sell all or part of your property to a home reversion company. This means that when you and your partner die or go into long-term care, the home reversionary company takes possession of your property. The advantage of this type of scheme is that they traditionally pay more equity than a lifetime mortgage.
Our conveyancing solicitors will advise you on all the options available and whether equity release is the most suitable method of releasing equity. If it is, as a firm of solicitors, we can deal with the legal work involved to provide a streamlined and effective service that you would struggle to find elsewhere.
For more information, download our helpful conveyancing guides or call our team on 0114272 1884 for our Sheffield solicitors or 01302 341414 for our Doncaster solicitors.
Our Conveyancing solicitors can also help you with any of the following:
Are you thinking about Equity release? Our property team are here to help
01302 341 414 0114 272 1884
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