Costs of Equity Release Schemes

Take into consideration that when entering into any type of equity release scheme there will be set up costs and ongoing costs which can include:

1. Arrangement Fees payable to the lender
2. Legal Fees
3. Valuation Fees
4. Maintenance costs - you are still responsible for maintenance of the property
5. Insurance costs - maintaining adequate buildings insurance

Lifetime Mortgage can quickly erode the remaining equity and as a result there may be no value left to pass on.

'Equity Release' includes Home Reversion Plans and Lifetime Mortgages. To understand the features and risks please ask for a personalised illustration.