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Considering Equity Release What Happens Next
09/12/2010
What happens next if you go ahead with releasing equity from your home?
The first thing that will happen is your equity release adviser will arrange a survey of your home to establish its market value. The surveyor will send his findings to your adviser when the survey is completed.
After the valuation of your property, your adviser will provide you with a home reversion or lifetime mortgage offer for you to consider based on the surveyor’s report and valuation.
Seeking legal advice is vital and you will need to instruct a solicitor to act for you who must be familiar with equity release conveyancing and the Safe Home Income Plans (SHIP) code of conduct. Once you accept the equity offer, your solicitor will take care of a number of legal requirements that can take several weeks to complete.
On completion of the equity release application, your cash will be paid directly to your solicitor to issue.
Homeowners aged over 55 years who would like further details and would like to know how much money the value of their property could release, can find out by contacting therightequityrelease.co.uk for equity release advice.
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