How does equity release work? Conveyancing and Property
Equity release enables homeowners who are aged 55 or over to release tax-free cash from the value of their home so that they can use the money invested in their property to generate income.
Equity release often takes the form of a ‘lifetime mortgage’ which is a loan secured against your property, which is usually repaid from the sale of your home when you die or move into residential care.
If you are considering equity release, you will need to first take independent financial advice to ensure it is the best option for you, then you will need an experienced solicitor to support your transaction.
For assistance with equity release, contact our conveyancing and property team.