Equity Release/ Lifetime Mortgages are usually only available to those aged 55 or over, who often find themselves in the situation of being ‘house rich but cash poor’ when their wealth is tied up in their property. Our residential property team is also able to provide legal advice on Drawdown Lifetime Mortgages and Home Reversion Plans.

Equity release is aimed at helping to release some of the cash tied up in your home without the expense and inconvenience of having to sell your house and downsize. The most common type equity release scheme is the lifetime mortgage – you borrow against the value of your main residence (up to 60%) but continue to own the property.

If you are planning to release equity from your home by mortgaging your property, we can advise you on the process, the legal implications, your obligation and whether it is right for you, including lifetime interest only mortgages, hybrid lifetime interest only/compound mortgages and conventional lifetime mortgages. We can also assist in buying and selling using equity release to finance a move or transferring an existing scheme to a different property.