Maxwell Hodge
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Flying the flag for families

Our first class legal team is specifically designed to give
you and your family the complete service, with
strength, support and efficiency throughout.

Equity Release Mortgages

An equity release mortgage is a special type of mortgage which allows you to release some of the value of the equity in your home. 

This type of mortgage does not usually require any regular repayments and will be repaid when the property is eventually sold on the death of the property owner, or when the property owner goes into full-time care.

If you decide to take out an equity release mortgage it is imperative that you receive independent legal advice from a solicitor with experience in this field.

We are able to provide specialist legal advice on the terms of equity release mortgages, ensuring that you fully understand the implications that the mortgage will have during the operation of the scheme.  We will also discuss with you the events which will trigger the end of the scheme and the impact that the scheme may have upon any inheritance to be received by your next of kin, or the beneficiaries named in your will. You will always deal with a named person and not an anonymous team.

 

What is involved?

We will obtain official copies of your title deeds from the Land Registry and check that there are no special or unusual provisions affecting the title.  If there is a mortgage on the property, this will usually need to be repaid on completion of the equity release mortgage.

We will meet you at your preferred location in order to discuss the nature of the mortgage and to provide independent legal advice based on your chosen mortgage and your individual circumstances.

We will then report to your mortgage lender and request the release of your mortgage funds.

As soon as we receive the mortgage funds we will send the money to you either by cheque or bank transfer.

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