Equity Release Solicitors

Yes. All regulated equity release products require you to take independent legal advice before proceeding. This isn't just a formality—it's a legal safeguard designed to protect you. The requirement ensures that you fully understand the terms of the arrangement, the long-term implications for your estate, and any potential risks before you commit. Your solicitor's role is to review the product independently, explain everything in plain English, and make sure you're comfortable with what you're signing up for. Without this independent legal advice, the equity release cannot proceed.

Our fees are fixed and agreed upfront, typically ranging from £700 to £1,850 depending on the complexity of your case. This covers everything from reviewing the equity release product and meeting with you face-to-face, to providing detailed written advice and handling all the legal documentation and Land Registry work. We'll provide a clear, itemised quote before you instruct us, so you know exactly what you're paying for with no hidden costs or hourly billing surprises. In most cases, the legal fees can be added to the equity release amount, meaning you don't have to pay them upfront.

It depends on which type of equity release you choose. With a lifetime mortgage—the most common type—you retain 100% ownership of your property. You're simply borrowing against its value, and the loan (plus any rolled-up interest) is repaid when the property is eventually sold, typically when you pass away or move into long-term care. With a home reversion plan, you sell a percentage of your property to the provider in exchange for a lump sum or regular payments, but you retain the right to live there rent-free for the rest of your life. We'll explain exactly which type you're entering into and what it means for your ownership rights.

These are the two main types of equity release, and they work very differently. A lifetime mortgage is essentially a loan secured against your home. You borrow a lump sum (or access funds through a drawdown facility) and retain full ownership of your property. Interest is charged on the loan, and in most cases, this rolls up over time rather than being paid monthly. The total debt is repaid when your property is sold.

A home reversion plan, on the other hand, involves selling a percentage of your property to a provider in exchange for a lump sum or regular income. You no longer own that percentage, but you have the legal right to live in the property rent-free for life. When the property is eventually sold, the provider receives their percentage of the sale proceeds. We'll explain which type you're entering into, how it works, and what the long-term implications are for you and your estate.

Yes, but the amount they inherit will be reduced by the equity release debt. With a lifetime mortgage, the loan amount plus any accumulated interest will be repaid from the sale proceeds of your property. With a home reversion plan, the provider will receive their agreed percentage of the sale price. Whatever remains after these amounts are settled will form part of your estate and pass to your beneficiaries. We'll explain exactly how much will be owed based on the terms of your scheme, and help you understand the potential impact on your estate over time. Many clients choose to discuss this with their family before proceeding, and we can provide written information to help those conversations.

It can, and this is something we'll discuss with you during our advice. If you're currently receiving means-tested benefits—such as Pension Credit, Housing Benefit, or Council Tax Support—releasing a lump sum may push you over the savings threshold and affect your eligibility. This is particularly important if you're receiving or may need help with care costs in the future, as local authority support is means-tested. We'll flag this concern during our review and recommend you speak to a financial adviser or benefits specialist before proceeding, so you can make an informed decision about whether equity release is right for your circumstances.

Most equity release products don't require monthly repayments, which is one of the reasons they're popular with retirees on fixed incomes. With a standard lifetime mortgage, the interest rolls up and is added to the loan balance, meaning the debt grows over time. The total amount—original loan plus accumulated interest—is repaid when the property is sold. Some lifetime mortgage products do allow you to make voluntary interest payments if you want to reduce the amount owed, and a few offer the option of paying the interest monthly to prevent it from rolling up. We'll explain exactly what your product allows and what happens if you choose not to make payments.

Yes. You have a 14-day cooling-off period after signing the equity release documents, during which you can cancel the arrangement without penalty. This gives you time to reflect on your decision, discuss it with family if you wish, or seek additional advice. If you decide to cancel within this period, you simply notify your provider in writing, and the arrangement will be unwound. We'll explain your cancellation rights in detail as part of our legal advice, so you know exactly how long you have and what you need to do if you change your mind.