For You
If you own property and are looking to increase your income or raise a capital sum, you may want to consider equity release. At CWJ, we can discuss the options with you and your family and connect you with independent financial advisors with substantial expertise in this area of law.
Equity release can be a valuable financial tool, but it’s essential to approach it with care and a full understanding of the implications. Missteps in the process or poor advice can have significant consequences, affecting your financial security, inheritance plans, or long-term stability.
Our experienced equity release lawyers are here to guide you through the complexities of equity release with confidence and reassurance. Whether you’re considering releasing equity from your home or resolving issues arising from a previous agreement, we provide clear, expert advice tailored to your circumstances.
We’ll carefully assess your needs, explain the options available, and help you navigate the process to ensure your interests are fully protected. From understanding eligibility criteria to exploring funding solutions and addressing potential risks, we’re committed to achieving the best outcome for you.
Our team are here to ease you through this process. To discuss your case during an initial consultation, call our expert team today on 01689 887887 or fill in our simple enquiry form. We’re here to simplify equity release so you can focus on what’s important.
We have extensive experience helping clients pursue equity release claims across a wide range of industries, including:
Our equity release conveyancing solicitors in Orpington boast comprehensive legal knowledge and a superb track record of achieving the best outcome for clients. We understand how complex equity release can be and will deliver outstanding service with the utmost clarity, ensuring that you are fully informed throughout the process with consistent communication.
Our connections with independent financial advisors mean that you can always be assured of the highest-quality equity release advice, regardless of how complex your case may be. We take pride in combining our excellent knowledge with the compassionate and practical approach to cases that makes CWJ the renowned firm it is today.
We appreciate that equity release can be overwhelming and may represent a significant financial step in someone’s life. Our team are dedicated to finding the best solution for you and will carefully assess your personal situation to deliver bespoke advice that treats your finances and interests as the absolute top priority.
Members of our equity release team are ranked by Chambers & Partners, which is a credit to their dedication and talent.
For more information about our other residential property services, please see our conveyancing page.
At CWJ, we pride ourselves on total transparency regarding fees. This means you can expect a full outline of all expected costs prior to the outset of the case, in addition to updating you immediately should any further costs incur during the process. Our solicitors appreciate the stress that often accompanies equity release and are committed to mitigating this as much as possible through the clarity we offer with our solicitors’ fees.
For equity release cases, we typically charge on a fixed-fee basis, which will include consultations, review of the terms, advising on implications, drafting and completing paperwork and liaising with lenders. However, more complex cases may be charged at an hourly rate.
If you have any queries about the costs involved in an equity release case, don’t hesitate to get in touch.
Equity release is a financial scheme that allows homeowners aged 55 or above to access an amount of their property’s value without having to sell or move out of their house. Most often, equity release is used to supplement retirement income, fund expenses or provide financial support. There are two main types of equity release:
Because equity release reduces the value of your estate and can affect eligibility for means-tested benefits, it is essential to consult expert legal advisors throughout the process. At CWJ, our equity release conveyancing team have your best interests at heart and can provide bespoke advice that will protect your future.
Equity release requires that you must either own your home outright or only have a small mortgage remaining, that must be paid off as part of the process. You must also be aged at least 55 years old and meet criteria established by your provider, such as minimum value of property.
Having chosen your equity release plan, you must seek expert financial advice and arrange a valuation of your property. Our team can ensure that you are well represented in this stage, no matter the complexity of your case, in order to best safeguard your interests.
Once you’ve selected a plan, you will complete an application with your chosen provider. When this is approved, funds will be released to you, either as a lump sum, regular agreed instalments, or as a combination of both.
There is no set answer to how much equity can be released. However, the equity you’re able to release from your home depends on several factors, as follows:
We appreciate that these factors can appear complex. Don’t hesitate to contact our expert team for advice on how much equity release you may be personally entitled to.
Upon your death, the money must be repaid to the provider. With a lifetime mortgage, your home will usually be sold by the executor of your Will to pay back the provider or pay the loan back by other means if needed. For home reversion plans, the provider will receive their agreed share of the sale proceeds.
Most providers allow up to 6 to 12 months for the property to be sold and the loan repaid. This gives the executors of the estate sufficient time to handle the process. Penalties or additional charges may apply if the property remains unsold within this period. Beneficiaries also have the option to repay the loan themselves to retain ownership of the property.
If the equity release plan was set up jointly by two homeowners, the agreement continues until the last surviving homeowner passes away or moves into long-term care. Only then is the repayment triggered. Importantly, equity release plans ensure that the amount owed will never exceed the property’s sale value, even if the property has decreased in value.
The equity repayment process is straightforward, but a full understanding is essential to ensure that payments are made appropriately. At CWJ, our expert solicitors can guide you through this process with clarity and compassion.
For further information on repaying equity release, please contact our estate administration and probate solicitors.
The cost of equity release depends on the provider selected and the type of plan. Some of the key costs you will have to plan for include:
Usually, the equity release process takes 6 to 8 weeks, from the initial application to the release of funds. However, complexities in the case such as negotiations of terms, obstacles in the legal process or incorrect documentation can increase the time frame.
To discuss your case during an initial consultation, call our expert team today on 01689 887887 or fill in our simple enquiry form. We’re here to simplify equity release so you can focus on what’s important.
Contact our office
Make an enquiry
