Ensuring you choose the Right Equity Release

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Do I need a solicitor and Why?

Do I need a Solicitor?

An Equity Release is very similar to a standard mortgage and requires a charge being placed on your home in the same way as a mortgage. When you decide to apply for a Equity Release Scheme and you decide to proceed you will need to instruct a solicitor to represent you.

It is a requirement of SHIP (Safe Home Income Plans) that:
· You choose a solicitor who is independent of the provider of the equity release scheme funds

· Your solicitor will need to check you have been advised properly and the scheme you have been recommended is right for you and you fully understand it. They will sign a certificate confirming you understand fully the implications of what you have applied for.

Can I use my own solicitor?

Yes, you can choose the solicitor you wish to use, however we do recommend that you use a solicitor who is fully experienced and knowledgeable in handling equity release cases, as this will ensure that the process will be completed for you in a timely manner, therefore often resulting in a speedier processing of your case.

Using an Experienced Equity Release Solicitor who is used to dealing with the requirements of the Equity Release Scheme provider can save you both money and time. There are many changes in the Equity Release Market which a specialist solicitor will keep up to date with, the new requirements, new changes in legislation and state benefits will need to be advised to you in relation to equity release. They will understand the schemes rules and the processes required to complete your case and will be able to explain everything to you, without all the legal jargon.

How do I find an experienced solicitor who specialises in equity release schemes?

Contacting the Law Society will provide you with a list of solicitors’ in your local area who are experienced in the equity release process. Your Specialist Equity Release Advisor will also be able to recommend an experienced specialist solicitor for you. You will be given the option to be advised by a solicitor on a face to face basis or you can choose the faster route of post and telephone advice. Please speak to us for details of the Specialist Solicitors we recommend that cover your local area. The solicitors we recommend are completely independent from The Right Equity Release Ltd and will advise you independently of us and the provider, they effectively work for you and no one else.

The Right Equity Release Limited which is authorised and regulated by the Financial Services Authority. Registered in England 07166676.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

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