Further Release

Releasing further equity from your home

If you have not already sold 100% of the equity in your home, you may be able to apply to release further equity from your property.

The minimum amount you can release is £10,000 or the cash raised from selling 10% of the property, whichever is the lower. However, should you have less than 10% equity remaining in your home, for example already sold 95%, you can still apply to release the remaining equity.

If you are unsure of the percentage ownership, please contact us on 0800 0322118 and we will be happy to confirm.

We are not authorised to give advice on any of our plans. It is an FCA requirement that anyone looking to release more money from their home reversion plan must seek financial advice from a financial adviser authorised and regulated by the FCA to give advice on home reversions. If you need help finding an adviser the websites given below will help.

You would be responsible for paying any fees for legal or financial advice. Please see our Tariff of Charges

Will I need a solicitor for my further release?

Depending on the Terms of your Plan you may be required to seek independent legal advice. Even where this may not be the case, we would strongly advise you appoint a solicitor to act for you. We reserve the right to insist on this, for example, if we have concerns about whether releasing further equity is appropriate.

If you don't have a solicitor, the Law Society provide a free 'Find a Solicitor' service for anyone looking for information or people providing legal services in England and Wales.

Please visit solicitors.lawsociety.org.uk and enter your legal issue and postcode. If you are in Scotland, you can use www.lawscot.org.uk/find-a-solicitor/ which is run by the Law Society of Scotland.

The solicitor must provide us with an Equity Release Council Solicitor’s Certificate, verifying that they have explained the details of the contract to you and that you understand the terms of that contract. You will be responsible for all your own legal costs and all disbursements. We will pay all of our own legal costs, associated with the transaction.

Will I need a financial adviser for my further release?

Yes, it is a requirement of the FCA that you seek independent financial advice from a financial adviser authorised and regulated by them to give advice on home reversions, when considering releasing further funds from your home.

If you don't have a financial adviser, the following sites can help you find advisers in your local area who are fully qualified, equity release specialists. They are www.equityreleasecouncil.com/member-directory or www.unbiased.co.uk

The adviser will discuss all implications involved when proceeding with a further release.