Equity Release Solicitors
Clear, independent legal advice to help you unlock the value of your home with confidence
Straightforward guidance on equity release
Equity release allows homeowners to access the value tied up in their property, either as a lump sum or in stages, without needing to move home. It can provide valuable financial flexibility in later life, but it is a significant and long-term commitment.
Our equity release solicitors provide clear, impartial advice to ensure you fully understand how equity release works, the legal implications involved and whether it is right for you. We focus on protecting your interests, explaining everything in plain English and ensuring you are comfortable with your decision before proceeding.
Equity release lenders require borrowers to receive independent legal advice, and our role is to ensure that the terms, risks and consequences are fully explained before your sign.
How Goughs can help with equity release
Equity release products are complex, and specialist legal advice is essential. Our team will guide you through every stage of the process, working at a pace that suits you.
- Explaining the legal terms and conditions of your equity release agreement
- Ensuring the scheme meets regulatory requirements
- Confirming that the product reflects your instructions and understanding
- Highlighting the risks, restrictions and long-term consequences
- Liaising with lenders and financial advisers
- Completing the legal work efficiently and clearly
What is equity release?
Equity release is a way for homeowners aged 55 or over to release cash from the value of their home, while continuing to live there. There are two main types of release scheme.
Lifetime mortgages
A lifetime mortgage is a loan secured against your property. You retain ownership of your home, and the loan is usually repaid when the property is sold, following death or a move into long-term care. Funds may be taken as a lump sum or in smaller instalments, and interest typically rolls up over time.
Home reversion plans
A home reversion scheme allows you to sell all or part of your property to an equity release provider in return for a lump sum or regular payments. You have the right to live in the property rent-free for the rest of your life, but ownership of some or all of the property transfers to the provider. To qualify, you must be a UK resident, aged 55 or over, and own your home.
Understanding our role in equity release
Equity release requires careful consideration, clarity and independent advice. Our solicitors combine specialist property and later-life planning expertise with a calm, supportive approach.
When working with us, you can expect:
- Clear explanations without jargon
- Independent, lender-required legal advice
- Thorough review of all legal documentation
- Transparent guidance on equity release solicitors fees
We prioritise your understanding and confidence at every stage of the process.
Speak to a solicitor
Whether you’re exploring equity release or need clear legal advice, our solicitors are here to help. Speak to us by phone, email, or visit one of our seven offices.
Call us
With seven offices around the South West of England, we have multiple offices you can call.
Email us
If you would like to drop us an email you can on info@goughs.co.uk
Visit us
With offices in Calne, Chippenham, Corsham, Devizes, Melksham and Trowbridge, you can pop in and see us. View office locations.
The advantages and considerations of equity release
Equity release can offer benefits, but it is not suitable for everyone. Understanding both sides is essential before making a decision:
Potential advantages
- Access to a tax-free cash lump sum
- No monthly repayments in most cases
- Remaining in your home for life
- Possible inheritance tax planning advantages
Important considerations
- Compound interest can significantly increase the amount owed
- Early repayment charges apply
- Equity release can affect entitlement to state benefits
- You may be restricted from taking further loans against your property
- The value of your estate may be reduced
Equity release FAQs
Yes. Equity release lenders require you to receive independent legal advice from a solicitor before you can proceed. This ensures you understand the terms and implications of the agreement.
Costs vary depending on the complexity of the transaction. We provide clear information on costs at the outset, so you know what to expect with no hidden surprises.
Equity release solicitors fees typically cover reviewing the mortgage offer, advising you on the legal implications, liaising with the lender and completing the necessary legal documentation.
It can. Equity release may impact benefits and reduce the value of your estate. We will explain these considerations so you can make an informed decision.
Our clients rate us as excellent
Corsham
Well-managed transaction handled promptly and professionally. We have used Goughs before, will use again and would not hesitate to recommend
Sue Jenkins
Nadine has been excellent throughout, keeping us regularly informed of all progress and we liked her very practical approach to things. The support staff at Goughs have also been excellent throughout, hence, instructing Goughs on 4 property matters. Nothing too much trouble and all requests were dealt with very swiftly
Kate Horner
Ailie was professional, friendly and very efficient. Ailie’s knowledge, reassurance and patience is invaluable.
W D, Calne
Professional, helpful & knowledgeable service. Giving very clear advice in a way I could understand. Thank you.
S, M, Chippenham
The service was professional, efficient and very friendly. I will be using Goughs again.
Sarah Fuller
Brilliant service, I couldn’t fault Goughs and have subsequently gone on to use their services for another purpose.
Meet the equity release team
Licensed Conveyancer
Associate Chartered Legal Executive
Residential Conveyancer
Trainee Residential Conveyancer
Senior Associate
Solicitor
Licensed Conveyancer
Solicitor
Residential Conveyancer
Trainee Residential Conveyancer
Trainee Residential Conveyancer
Residential Property Conveyancer ACILEX
Associate Solicitor
Senior Associate
Partner and Head of Residential Property
Solicitor
Licensed Conveyancer
Associate Solicitor
Licensed Conveyancer
Associate Chartered Legal Executive
Residential Conveyancer
Residential Conveyancer
Solicitor
Partner
Partner & Notary Public
Senior Associate Solicitor and Co-Head of Agriculture & Rural Land
Why choose the Goughs equity release team?
Local since 1882, with an excellent reputation
First-class, effective service
Largest solicitors in Wiltshire
Seven offices throughout the county
Nationally accredited law firm
Recognised by Legal 500 and Chambers & Partners