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.

YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

EQUITY RELEASE/LIFETIME MORTGAGES: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.

DEBT CONSOLIDATION: THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

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