Equity Release Solicitors

If you’re looking for an equity release solicitor, contact Fan Harrhy Law today. We are based in South Wales and have extensive experience advising clients on all aspects of equity release loans.

At Fan Harrhy Law, we can provide expert legal advice, advise you on which equity release scheme is best for your needs, and help you complete the relevant documentation to ensure your money is released to you as soon as possible.

Our equity release solicitors are members of the Equity Release Council.

What Is Equity Release?

Equity release allows homeowners (typically those over the age of 55) to access tax-free cash from the value of their home without having to move out.

There are two main types of equity release scheme:

Lifetime mortgage. This is the most common type of equity release. It is a loan secured against your home, similar to a traditional mortgage. The cash can be paid to you in monthly instalments or in one lump sum. The loan and accumulated interest are typically repaid from the sale of the property once the last homeowner dies or moves into a care home.
Home reversion. A home reversion plan involves selling a percentage of your home to a provider in exchange for a lump sum or a regular income. You are then able to live in your home rent free until you die or enter full-time care.

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Frequently Asked Questions

Equity Release FAQ

How much equity can I release?
The amount of equity released will depend on a few different factors, such as: your age, your health, the size of your mortgage, the value of your home, its location, the type of home it is and what condition it is in. Providers will use these variables to calculate a maximum loan-to-value percentage, often between 20% and 60% (although this can vary).

Can I release equity to pay off debt?
Yes, using equity to pay off debt is very common. You can pay off a wide range of debts including credit cards, car finance and outstanding mortgages. Our equity release solicitors can help you check your options and make sure that equity release is the best choice for you.

How long does equity release take?
The equity release process takes around 8 – 12 weeks on average, although the exact time will depend on the scheme you opt for. Appointing an equity release solicitor can help you avoid any delays.

How do I repay an equity release mortgage?
Usually, you can repay an equity release mortgage through the sale of your property when the last surviving borrower dies or moves into a care home.

Equity Release Specialists

Get in touch with Fan Harrhy Law today to discuss which equity release plan is best for you and how you can get started. We are based in South Wales, but we’re happy to take on clients from across Wales and England.