Costs

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Costs of Equity Release Schemes

Take into consideration that when entering into any type of equity release scheme, there will be set-up costs and ongoing costs. These can include:

  1. Arrangement fees payable to the lender
  2. Legal fees
  3. Valuation fees
  4. Maintenance costs - you are still responsible for maintenance of the property
  5. Insurance costs - maintaining adequate buildings insurance

Warning Text

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A LIFETIME MORTGAGE CAN QUICKLY ERODE THE REMAINING EQUITY AND AS A RESULT THERE MAY BE NO VALUE LEFT TO PASS ON.

EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

EQUITY RELEASE WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.

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