We are one of only a few law firms in the Northeast and Yorkshire who specialise in assisting clients who are taking Equity Release or a Lifetime Mortgage and are also a member of the Equity Release Council, assuring you of our expertise in this area.
An Equity Release Mortgage enables a home owner to “release” some of the equity they hold in their home which is paid either by receipt of a lump sum of money or regular monthly instalments. The difference between a mortgage taken out under an Equity Release scheme and a standard repayment mortgage is that, usually, under an Equity Release Mortgage, repayment of the lump sum or interest is not repayable until you either pass away or have to go into care.
The lump sum, plus accrued interest, can be a sizeable sum and it is imperative that legal advice is taken to ensure you understand the repayment terms and importantly, what may be left for the family or other beneficiaries under your estate.
When advising clients in this area, it is necessary for your solicitor to meet with you, face to face. Clark Willis Law Firm knows that this is not always easy for some of our equity release clients. Therefore, we offer home visits for no extra cost.
As a result of our expertise in this area, we are usually able to help our clients receive their equity release mortgage funds within a round 4 weeks after we receive the mortgage offer from your lender.
Our highly experienced Conveyancing team provides clients with a personal service. We believe that successful transactions are built upon good, regular communication, helping you to cope with the sometimes stressful and demanding aspects more easily. We provide direct contact numbers and email addresses to allow you to speak directly to the person dealing with your matter, so when you have anything, you need to ask us, we are there to help.
For further information on equity release, please contact your local office or email firstname.lastname@example.org.