There are conditions that homeowners need to meet before taking out equity release:
- For a lifetime mortgage you and your partner need to be at least 55 years old
- For a home reversion scheme you and your partner need to be at least 65 years old
- You must own property in the UK
- The property must be your main residence
- If you have dependants living with you it is important to speak to an adviser for more information as equity release may not be suitable
- The money released must be used to pay off any existing mortgage or loan secured against the property. You are free to use whatever money is left over for your other financial needs
- Your property must be in a reasonable condition and over a certain value. There may also be restrictions on the type of property accepted
To find out more about our services, contact a member of our Private Client team today on 0151 608 9078 or complete our online enquiry form.
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Residential Conveyancing
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Our People
Deborah Gajewski
Senior Associate, Head of Property
Lois Furber
Conveyancing Executive
Tanya Sefton
Trainee Solicitor
Tim Passmore
Solicitor, Head of Dispute
Michelle Harper
Legal Assistant