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Q. Do Lenders Deliberately Downvalue Properties For Equity Release

A. Equity release company's do have the final say on what they consider the properties true worth. However beforehand, they will appoint a local surveyor who will arrange a time to complete a survey....

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Q. Who Owns My Property If I Take A Release Of Equity?

A. The main principle behind the popularity of a lifetime mortgage is that you will retain 100% ownership of your property. The equity release company will register a first legal charge on your...

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Q. Can Equity Release Affect Means Tested Benefits?

A. Lifetime mortgages and home reversion are classed as a release of capital from your property. Therefore, if you're on means tested benefits such as pension credit, savings credit or council tax...

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Q. How Long Does An Equity Release Application Take?

A. This will depend on whether you have applied for a lifetime mortgage or home reversion plan. Usually, a lifetime mortgage can be completed within 6-8 weeks, whereas a home revesion can be processed...

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Q. How Much Does Equity Release Cost?

A. In dealing with the whole equity release market, costs will vary between lenders and equity release advisory firms. However, in summary there are four sets of fees. The only upfront cost you should...

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Q. Does It Matter How I Spend The Equity Release Proceeds?

A. Releasing capital from your property via equity release schemes gives you the freedom to spend the tax free cash as you wish. There are no restrictions on how the proceeds are spent. Your equity...

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Q. What Is the Best Lifetime Mortgage Interest Rate?

A. As with any type of mortgage, equity release interest rates fluctuate and are affected by economic conditions and competition from other lenders. Today's range of lifetime mortgages currently have...

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Q. How Do I Find The Right Equity Release Mortgage?

A. Releasing equity from your home is a big decision that will not only affect your life, but also your beneficiaries. Therefore, you should ensure that you receive expert independent equity release...

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Q. Do I Qualify For An Equity Release Scheme?

A. Eligibility for equity release starts with a minimum age of the youngest homeowner being 55. The property must be valued in excess of £60,000 and be of standard build, or classified as within...

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Q. How Does Equity Release Work?

A. Equity release schemes are a form of mortgage whereby homeowners over the age of 55 can release equity tied up in their property. The equity released can be spent as the homeowner wishes, ranging...

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