Independent Legal Advice on Equity Release, Lifetime Mortgages and Later-Life Lending

What is equity release?

Equity release lets homeowners aged 55 and over unlock some of the value tied up in their home, either as a lump sum, in smaller amounts over time, or a combination of the two. The most common form is a lifetime mortgage, where you borrow against the value of your home while continuing to live in it. Interest is either paid monthly or rolled up and added to the loan, which is repaid when the property is sold, typically after you move into long-term care or pass away. Because equity release affects the value of your estate, the amount you can leave to family, and potentially your entitlement to means-tested benefits, it is a decision that needs to be taken carefully and with proper independent legal advice.

The plans we act on

We act on standard equity release lifetime mortgages. We do not deal with home reversion plans, where you sell a share of your home to the plan provider. If your financial adviser has recommended a home reversion plan, we would ask you to instruct a specialist in that area. For all lifetime mortgage matters, we will handle the legal side from start to finish.

How the legal process works

You will typically have already spoken to a qualified financial adviser and received a formal offer from the lender before instructing us. Our role is to review that offer, check the legal documents, and make sure you fully understand the implications before signing. We will look at your title to the property, deal with any issues that need resolving before the plan can proceed, liaise with your lender on any legal requirements, and prepare a clear completion statement showing every figure involved.

Once the offer has been reported to you in writing, we ask that you come into the office to see us before making the final commitment. This gives you the opportunity to digest the information at home first, and then talk it through with us in person so we can go through it all in detail and answer any questions you have before you decide to proceed. It is a step we consider important given the significance of the decision.

Our fees

We offer a clear, fixed legal fee for equity release work:

• Our fee: £595 + VAT
• Leasehold supplement: £100 + VAT (where the property is leasehold)

VAT is charged at the prevailing rate (currently 20%). Disbursements payable to third parties (such as Land Registry fees, electronic transfer fees and AML identity checks) are charged in addition. The full breakdown sits on our Conveyancing Pricing page, and we will confirm your individual quote before we begin.

Involving family

Equity release affects the value of what you leave behind, and many clients want to talk things through with adult children or other family members before making a decision. We are happy for your family to attend meetings with you if that is what you would like, but the legal advice itself is given to you alone, in private, so we can be confident the decision is yours and yours alone. If you would prefer to keep the matter confidential, that is equally fine.

How long does it take?

Most equity release matters complete within four to eight weeks of instruction, depending on the lender’s timescales, the complexity of the title, and the time you need to consider the documents. We will never rush you. If you need more time to think things over, talk to family, or revisit the plan with your financial adviser, take it.

Things to be aware of

Equity release is not the right answer for everyone. The interest on a lifetime mortgage compounds over time, so the amount owed can grow significantly over the course of many years. It will reduce the value of your estate and may affect your entitlement to means-tested benefits. It can also limit your options if you wish to move home later. Your financial adviser will set all of this out, and we will reinforce it from the legal side. If after our advice you decide not to proceed, that is a perfectly valid outcome and we will simply close the file. We are not paid on commission, and we have no interest in any plan completing other than that it is right for you.

Speak to our conveyancing team

• Get a clear, fixed-fee quote for the legal work
• Have your equity release plan independently reviewed in plain English
• Take the time you need, with family alongside you if you would like