How much does equity release cost?

As with a traditional mortgage, there are costs involved with setting up an equity release plan. These costs will typically include:

• Valuation fees

So that an equity release provider can assess how much they are willing to offer you an accurate valuation of your property will need to be undertaken. This will be performed by a professional surveyor who will charge a fee for the service.

• Legal fees

It is important you have independent legal representation for a transaction of this nature and so there will be legal fees to pay similar to the fees charged under the normal sale or purchase of a property.

• Arrangement fees

Most advisers, including ours will charge you a fee for setting up your equity release scheme. This fee will be made clear to you at the start and will only be charged if you choose to take out an equity release plan. If after consultation you and your adviser decide equity release is not the right option for your circumstances there will be no fee payable.

If you feel that equity release may be right for you, or if you’d just like to know more you can call 0800 622 6035 or request a call back. One of our team will be able to discuss with you your circumstances, review your eligibility and, if appropriate, arrange an appointment for you with an adviser.