Equity Release

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Equity Release

Here at Inheritance Legal Services we are able to offer ‘Equity Release’, also known as Lifetime Mortgages. Via our strategic partners we are able to arrange a no obligation meeting to discuss the need for Equity Release further.

So what is Equity Release?

Put simply, equity release enables those aged between 55 and 95 to access some of the cash locked in the value of their homes. The loan plus interest is repaid following the death of the client or their admission into long-term care; or, if it is a joint plan, the loan plus interest is repaid following the death of the last surviving client, or their admission into long-term care.

There are several types of equity release plan available with many different features to choose from which suit a wide range of client needs, including:

Enhanced plans, allowing those with medical or lifestyle issues access to a higher loan-to-value (LTV)

Capital repayment plans, where clients can repay a percentage of their lifetime mortgage per year without incurring any Early Repayment Charges (ERCs), subject to lender criteria

Interest payment plans, where clients can pay some or all of the monthly interest, subject to lender criteria

Drawdown plans, allowing clients to take withdrawals as and when they need them, following an initial release

Fixed ERCs

Downsizing Early Repayment Charge Exemption, if a client were to move to a different property they could repay the loan without incurring an ERC, subject to lender criteria

There are typically no monthly repayments to make, as the loan, plus roll-up interest, is repaid when the plan comes to an end..

“Very helpful team who immediately put us at ease. The service was straightforward and everything was made clear. We are pleased we used Inheritance Legal Services.”

Mr Baker & Ms Lynch

Contact us today about Equity Release

If you have any questions, or would like to arrange an appointment, please do not hesitate to contact us.