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Frequently Asked Questions
1. What we do for you?
Our role is to advise you on the legal implications of the Equity Release Scheme and to report to you explaining the terms of the Equity Release Scheme and the risks and advantages of proceeding. Our letters are written in plain English and we always aim to ensure that you fully understand the terms of the documentation.
2. What are our charges?
We charge a fixed fee plus any out of pocket expenses (eg, Land Registry fees). If your property needs to be transferred into the names of those who wish to take out the Equity Release Plan, is leasehold or unregistered then we will charge an additional fee. However, we always provide a full breakdown of our costs in our initial letter to you.
3. If I am unable to visit any of your offices, can I still use you?
We are able to find a solicitor local to you who will be able to witness your signatures to the documentation. You will be responsible for the fees of the local solicitor but we will always ensure that the fee is no more than £75 plus VAT (although if you require a home visit this fee may be higher).
4. Can I use Equity Release for any purpose?
The simple answer is yes. Please be aware that if you plan to give the proceeds of the Equity Release or part of it to a relative or friend then you should take specialist legal advice as rules regarding gifts (for example in relation to Inheritance Tax) are complex.
5. How do I know that I am proceeding with the best plan?
The key to ensuring that you are proceeding with the most appropriate product to your circumstances, is (as the Financial Services Authority recommend) by taking specialist Independent Financial Advice. We are able to provide you with the details of a specialist Independent Financial Advisers if you wish.
