Frequently Asked Questions
What are the fees and when are fees payable?
The fees are payable on completion of your Mortgage and can be deducted from the advance amount or paid by the client separately. The maximum fee payable for advice is a flat fee of £1,495 and the legal fees payable are £935 inclusive of VAT, Lenders do not charge upfront fees to value your home and may charge an arrangement fee for some of their products. A full breakdown of fees payable is provided to you as part of the advice service, prior to any decision being made to proceed.
- What are the fees and when are fees payable?
- How long does it take?
- What is the minimum and maximum age?
- How much can I borrow?
- Do I keep ownership of my house?
- Should I discuss things with my family?
- Which is the best lender?
- Why do I need an Adviser?
- How many types of Equity Release are there?
- Will I be allowed to move home?
- Can I repay the debt in my lifetime?
- Can I ensure that an inheritance is left to my children?
- If I do not pay the interest, do I lose my home?
- Will I need a solicitor?
- Can my son / daughter / friend attend any meetings?
- How does my health and lifestyle affect things?
- What is drawdown and how does it work in my favour?
- I have placed my home in Trust for my children – can I still borrow funds?
- I have spray foam insulation installed in my loft – is this a problem?
- Are all types of property acceptable to lenders?
- How many lenders are there?
- What are the interest rates and how are they calculated?
- Are there any restrictions on what the money can be used for?
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