Equity release schemes have grown in popularity in recent years as the over 55's look to use their homes to unlock the money that has built up in their home by decades of property price increases. As homeowners over the age of 55 go through this process, the role of a knowledgeable solicitor is essential and recommended by the Equity Release Council which promotes safe equity release. A statement we stand by as a firm also.
As a member of the Equity Release Council, we have specialist solicitors within Domestic Property in each of our six offices who offer personal legal advice to anyone considering a scheme. Within the Council's 'Statement of Principles' an essential aspect of the equity release process is for home-owners to seek independent legal advice. This ensures:
- Professional and friendly support with a face-to-face meeting that ensures a homeowner understands the long-term nature of an equity release contract;
- The homeowner proceeds with full knowledge of the rewards and risks, as well as the legal obligations of the plan.
Our specialist solicitors understand the law, but just as importantly, they also understand the personal decisions that homeowners are making and the need to discuss such long-term financial matters with empathy - taking time to ensure clarity and certainty, with all options considered.