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At Poole Alcock, our property lawyers can advise you on the pros and cons of your chosen equity release plan.
Your home is likely to be one of your biggest assets. Equity release schemes can make your property work for you, by releasing some of your money while you’re still living there. Equity release could be the right choice for you if you own your home, are aged 55-95 and live in England or Wales. However, it is important you take independent financial advice before deciding whether or not equity release is the right choice for you.
Exchanging some of the equity in your home for a cash lump sum is a significant step that can have serious implications for your future. These can include the effect a lump sum will have on your entitlement to state benefits, the impact of a compound interest mortgage on the legacy you hope to leave, or the tax implications for your loved ones if they receive a gift of cash. Therefore, taking independent legal advice and separate independent financial advice is really important.
At Poole Alcock, our property lawyers can advise you on the pros and cons of your chosen equity release plan, be it a lifetime mortgage or a home reversion plan, giving you independent legal advice on the best way to achieve your goals.
There are many reasons for transferring equity. Our expert property solicitors can help with your equity transfer, and will deal with the Land Registry, mortgage lenders and HM Revenue and Customs on your behalf.
As well as providing expert legal advice, our property solicitors can help manage issues such as inheritance tax planning. This means that we will be able to help you to take all the right steps to protect your family and your finances.
For more information, contact one of our property experts today.
If you would prefer, you can contact us on 0800 470 0334.
Deputy Managing Partner
I have purchased several properties using the services of Poole Alcock and am thoroughly happy with the professionalism and great communication during the period of transaction. Buying a house is always a little stressful but the team at Poole Alcock take away the worries and answer any questions rapidly and efficiently.
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