Do you need a solicitor to release equity from your home?
If you’re considering releasing equity from your home, you may be wondering why you need to seek independent legal advice from a solicitor.
In most cases, you will arrange a meeting with a financial advisor who will explain the options available to you and provide advice on whether equity release is the right choice for you and explain how equity release works.
They should also advise you to talk to a solicitor before taking out a plan. In our latest article, we take a look at some of the reasons why getting expert independent legal advice on any equity release plan is so important.
Offering you greater protection
A number of rules have been introduced by the Equity Release Council designed to protect anyone seeking to release equity from their home.
This includes receiving independent legal advice from a solicitor to ensure that you fully understand the legal implications of the loan you are taking out.
As with any changes to your mortgage, there will be contracts you will need to sign and your solicitor will make sure these contracts protect your needs.
At Farnworth Rose, we have a team of experienced property solicitors who will be there to offer advice and answer questions you may have on the legal process of taking out an equity release plan.
Handling any changes to your will
When you take out an equity release plan, it is important that you review your will with an experienced will writing solicitor.
Your solicitor will fully explain the impact that equity release will have on your estate and what you will be able to pass on to your beneficiaries. Before you take out an equity release plan, it is vital that you understand the long term impact.
Our trusted will writing solicitors can make any changes to your will that you need to help protect you now and in the future.
Talk to the dedicated solicitors at Farnworth Rose
By talking to the dedicated solicitors at Farnworth Rose, you can receive expert advice on all the legal aspects of taking out an equity release plan.
Call Farnworth Rose on 01282 695 400 to book your free conversation with a specialist solicitor.
Or, you can simply complete our quick online contact form and we’ll call you back.