Equity Release Mortgages

Equity Release Mortgages

If you have been thinking about your retirement planning options, you may have considered releasing the equity that has built up in your property over the years.

Equity release has become an increasingly popular way for homeowners to enjoy a more comfortable retirement, and it is commonly put to use in other ways too, such as helping family members get on the property ladder or fund higher education.

Is Equity Release the Right Option?

Whilst there are ways in which an equity release mortgage may prove beneficial, it is important if you are considering such a scheme to ensure it is right for you.

Depending on your reason for needing the money, and your specific circumstances, there may be an alternative, more beneficial solution.

It is the role of an independent financial adviser (IFA) to assess your situation and make recommendations with all of this in mind. If equity release is deemed the best option then they will advise you on the choice of lifetime mortgages and home reversion plans available, their respective advantages and disadvantages and the costs involved. Ideally your family will be included in these discussions.

Expert Independent Legal Advice on Equity Release from HCB Solicitors

At HCB Solicitors we offer independent, expert legal advice on equity release. This is the next step after your IFA has made his recommendations and ascertained which of the available plans best suits your needs and situation.

Our experts will explain the chosen equity release plan to you in detail, and will make sure you fully understand the implications, future costs and legal obligations involved.

We will also ensure that the plan conforms to SHIP Standards. SHIP (Safe Home Income Plans) is the Equity Release Council’s predecessor body and the SHIP Standards Board ensures that equity release products are safe and reliable and include the necessary guarantees to ensure you will always retain the right to stay in your home.

Under the Equity Release Council Code of Conduct you have a right to engage an independent solicitor of your own choice. Because at HCB we have extensive knowledge and considerable past experience of equity release schemes, we are able to provide clients with clear, easy to understand explanations of the risks and benefits of the chosen plan and any impact it may have on their estate.

For Specialist Legal Advice on Equity Release, Contact HCB Today

Because equity release involves your greatest asset, it is crucial that the legal advice you take before proceeding is the very best available. For expert advice you can rely on, from solicitors who are fully conversant with equity release, contact HCB Solicitors today.