As you get older, you’ll likely want to treat members of your family whenever you can afford it. Younger relatives often benefit a great deal from monetary gifts, and having extra cash in your bank account will open up plenty of new opportunities for you and your family.
An equity release plan can help you to release some of the value of your home as cash, which you can then choose to spend as you see fit. You don’t need to move home, and you can often receive your cash as a lump sum. We can provide the legal advice you need to enjoy your money with the people who matter to you most.
If you’ve worked all your life, you’re probably used to putting some money away every now and then to save for a rainy day. With an equity release plan you can make sure you have that money available when you need it instead of scrimping and scraping to save it whenever you can afford it.
There are some other things to consider when releasing equity from your property, such as the rate of interest you will have to pay on the cash you get access to, but we can discuss these with you when we meet.
Lifetime mortgages and home reversions are the two most common types of equity release plan. With a lifetime mortgage you remain the owner of your home but take out a loan against it. With a home reversion you no longer own 100% of your home but a pay a minimal rental fee to stay there (or nothing at all). Again, there are benefits to both approaches. Contact us today to discuss the best option for you.
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If you would like to talk to us about the service you require, please contact our office on the number below.Call us: 01702 582030
The Solicitors Regulation Authority (SRA) is the regulatory body for solicitors in England and Wales.
Solicitors for the Elderly is an independent organisation of legal professionals who specialise in providing legal advice to elderly and vulnerable clients.
The Notaries Society represents the 900 or so Notaries Public currently practising in England and Wales.