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Equity releaseA problem facing a number of elderly people who own a valuable property is being able to live comfortably a on limited income, particularly in times of falling stock markets and low interest rates. Many are now turning to Equity Release schemes.
Equity release is a way of unlocking the value of the equity in a property by taking out a mortgage secured on your home or selling your home or part of it, to the scheme provider. The capital released can provide a lump sum, an income or both, and can even reduce personal wealth in order to minimise inheritance tax.
You will need a solicitor to enter into an Equity Release scheme and we can advise you on the effects of the scheme to ensure you are fully aware of its long term implications and deal with the conveyancing on your behalf. |
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