Equity Release

Your dedicated equity release solicitor will guide you through the process to result in a satisfactory conclusion

Your dedicated equity release solicitor will guide you through the process to result in a satisfactory conclusion

Equity release: What does it mean?

Equity release refers to a variety of methods of releasing some of the value tied up in your home, or property.

The money could be withdrawn in one large lump sum, one large sum followed by subsequent smaller amounts, or a series of smaller payments. There is plenty of flexibility designed to suit you and your unique circumstances.

Is equity release right for me?

Equity release should never be taken lightly and we would recommend you consider all options available to you before settling on this process of unlocking the cash tied up in your home. For example, could you perhaps downsize instead?

As solicitors specialising in equity release, we can provide expert advice.

Don't risk your property and future

Your local equity release solicitor since 1882

Your equity release questions answered

If you are over 55 and own your own home, there are two main options available to you. 

Lifetime mortgages

A lifetime mortgage is a loan secured against the property you own. The main difference to a regular mortgage is that there is no need to make monthly repayments, instead the debt can build up over a number of years. The sum will be paid off when your property is sold. 

Home reversion plans

A home reversion plan allows you to sell your property, or a portion of it, but remain living in it rent free. You may receive a lump sum or monthly payments. Please note that the amount you receive is likely to be lower than the market value of your property. 

There are many equity release plans available and all have varying pros and cons. We therefore recommend booking a conversation with an expert to discover which option will be most beneficial to you and your circumstances. 

In short, yes, you do need a solicitor to release the equity in your property. 

It is deemed as so important to obtain independent legal advice that it forms part of the Equity Release Council’s (the industry body for UK equity release) ‘rules and regulations’.

You are of course free to choose whichever solicitor you decide, regardless of recommendations from a financial advisor. 

Having an independent solicitor will safeguard you from any potential ‘rogue’ equity release advisor or scheme. They will also be able to advise on the legal implications of taking out an equity release option, rather than just the financial implications. 

An equity release solicitor will check your title deeds, propose and make offers, prepare and witness the signing of documents, check your ID and review all documentation before completion takes place. 

For more information or to discuss releasing the equity in your home, get in touch with our equity release team today. 

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Shaun
We have just completed some legal paperwork with Mrs Isabel Figueiredo and as ever she provided a brilliant service. She explained everything and made sure that my wife and I understood before proceeding. I cannot recommend her enough and thank you again.
Sue Greenman

Everything was completed professionally and within my tight time scales. I would like to say thank you and would definitely go back to Goughs should I need help in the future.

Matt Saunders

Sophie was very attentive and responsive and understood the need to act quickly in regard to our purchase process. She was diligent with the paperwork and was very easy to talk to and clear at explaining what was required in terms of action from our side and from the seller.

Ali McBrine

Thank you Alice Blackmore for your fantastic professional support, with care, compassion and kindness, of our need for explanation and understanding of the system and language in a lot of correspondence. Thank you too for being always being honest and empathic of our feelings.

Mike Blunsdon

Ellie genuinely cared and was invested in her work which added that personal touch of understanding and empathy that is needed when it comes to sensitive family matters. Her dedication and hard work secured my family and I the best possible outcome we could have hoped for.

Andrew Alvis

Another well-managed transaction handled promptly and professionally by Nadine Cook and her team. We have used Goughs before, will use again and would not hesitate to recommend their services to anybody.

Jennifer Jay
Luchia was extremely professional yet relaxed in her approach. Her experience and knowledge were obvious and she was tactful to the extreme in some of our unconventional bequests and wishes during a Will making appointment.
Phil Carter

Goughs Solicitors provide a friendly, professional and extremely reassuring service. The whole team, especially Georgina Catlin, are empathetic and provide sound advice when required, you definitely feel you are in safe hands.

Your equity release team

Sarah Thomson

Senior Associate & Head of Residential Property

Sarah is the Head of the Residential Property team and deals with all aspects of residential property, including freehold and leasehold sales & purchases, remortgages, transfers of equity, shared ownership, and auction sales & purchases.

Lisa Seddon

Solicitor

Lisa qualified as a Solicitor in 2001, later specialising in Conveyancing since she enjoys the high level of client interaction that it requires. Lisa joined Goughs in 2019 after moving to Wiltshire with her family.

Nadine Cook

Associate Solicitor

Nadine joined Goughs as a Solicitor in 2019 and progressed to Associate level a year later. Nadine provides a professional service to her clients in a friendly and welcoming manner, and she works proactively and efficiently to ensure that her clients' needs and expectations are met.

Ailie Peacock

Senior Associate Licensed Conveyancer

Ailie started with Goughs Solicitors as a Paralegal in the Conveyancing Department in November 2004. She subsequently studied for the next four years and qualified as a Licensed Conveyancer in 2009. Ailie progressed to Associate level in 2014, and Senior Associate in 2019.

Isabel Figueiredo

Partner & Notary Public

Isabel has always been proud of providing a very high quality of personal service to her clients. With Isabel's assistance, her clients have been able to make their lifetime investment, whether buying their new home or stepping onto the property ladder for the first time.

Specialist equity release lawyers

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

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