Equity release is a great way to access a lump sum of money if you are over the age of 55. Whether you want to help your children get onto that first step of the property ladder with a deposit, or you want to pay for a big purchase such as a holiday of your dreams or home improvements, this is an option that can help you do just that.
First of all, you should get advice from a financial advisor to see if this is the right decision for you. Speak to someone who specialises in equity release. They will be able to talk to you, and understand what you are looking for, so they can then help you look at your options so that you can make an informed decision on what is right for you.
Once you have decided that you want to go ahead, you need to get a solicitor who specialises in equity release like this equity release solicitor https://www.tivoli.legal/
They can also advise you and talk you through the process, helping you to apply and go through the necessary process such as the property valuation.
Once this is complete, your offer will be sent to your solicitor. If you are happy with the offer that they send you, your solicitor will release the money to you in whatever way you agreed with the lender – in chunks or a one off lump sum.