Equity Release Solicitors in Gloucester

If you are aged over 55, releasing equity from your home can be a good option to raise funds for your retirement, to cover the cost of care or to pay for other lifetime plans. There are some potential pitfalls to beware of, however, so it is important to take expert advice and have the right support during the equity release process.

Tayntons’ residential conveyancing solicitors in Gloucester regularly advise a wide range of people on different equity release options, including lifetime mortgages and home reversion plans. We will explain the legal implications of the lifetime product that either you have chosen or that has been recommended for you by your financial advisor and assist with dealing with the conditions that the product provider will need to be satisfied before the loan can be drawn down

Equity release commonly takes around 6-12 weeks to complete, but there is the potential for significant delays if the process is not handled effectively. Using our many years of experience, our team offer an expert equity release conveyancing service that helps your transaction to go ahead smoothly and on time for a competitive price.

We will keep you up-to-date every step of the way, so you are never left wondering what is going on or what to expect new. Whenever you have a question, a member of our team will be available by phone, email or video conferencing to give you the answers you need in plain English.

Speak to one of our equity release solicitors now by calling 0800 158 4147 or request a call back and a member of our team will be in touch promptly.

Our equity release conveyancing services

We can provide a full equity release conveyancing service, including:

  • Reviewing the terms of your lifetime mortgage or home reversion plan
  • Advising you on the legal implications of your equity release plan in plain English, highlighting key issues you need to be aware of
  • Agreeing a completion date with you and your lender
  • Requesting a redemption statement from your current lender (where relevant)
  • Carrying out standard conveyancing checks
  • Ensuring all required paperwork is in place and up-to-date (e.g. title deeds, building insurance, etc)
  • Transferring the funds from your equity release provider to your account
  • Transferring funds to your old lender to pay off your existing mortgage (where relevant)
  • Updating the title deeds for your property with the Land Registry

How equity release works

Lifetime mortgages

A lifetime mortgage is a type of equity release that allows you to borrow money against your home which generally does not need to be repaid until you die or enter long-term care.

Key features of lifetime mortgages:

  • Equity Release is considered to be a long term investment with most providers expecting that the loan will be paid back from the sale of your home when you die or enter long-term care
  • You can repay your Lifetime mortgage at any time you like.
  • Interest will be charged on the mortgage – depending on the product you have chosen you may pay this monthly or have it ‘rolled up’ and added to the total value of your borrowing
  • Your home will still belong to you
  • You will be responsible for paying for the maintenance of the property
  • Some funds can be ring-fenced as an inheritance for your loved ones
  • Your loved ones can choose to pay off the mortgage and keep your home if they wish
  • Lifetime mortgages typically come with a ‘no negative equity guarantee’, meaning if your home ends up being worth less than the value of your loan, then neither you nor your loved ones would be responsible for covering the difference
  • Most Lifetime mortgages are “portable” so if you decide to move, most products will allow you to move your equity release to your new home.
  • Some providers offer larger sums to those with life-limiting medical conditions or lifestyle factors

Currently, funds released from a lifetime mortgage are not taxable.

Home reversion plans

A home reversion plan is a type of equity release where you sell your home or part of your home in exchange for a lump sum, a regular income or both. Once you enter a home reversion plan, your home or the part of it you have sold now belongs to the plan provider, however, you will have the right to remain in your home until you die or choose to move.

Key features of home reversion plans:

  • Only available on your main residence
  • Your home or the portion you have sold no longer belongs to you
  • You have the right to stay in your home as long as you need
  • You can usually receive 30-60% of the property’s value (or the value of the portion you choose to sell)
  • The older you are, the higher percentage of the property’s value you will typically receive
  • Home reversion plans can significantly affect your tax position, access to benefits and inheritance planning 

Our equity release solicitors fees in Gloucestershire

We offer competitive fixed-fee conveyancing, so the price we quote at the outset will be the price you pay (barring any exceptional issues which may require additional work).

As part of your equity release conveyancing quote, you will receive a complete breakdown of the costs involved, including our fees and third-party costs (known as disbursements). This means you will know exactly where your money is going so you can make a fair comparison with our competitors

For a free, no-obligation equity release conveyancing quote, please use our quote request form.

Common questions about equity release

How long does equity release take?

Equity release can commonly be completed in around 6-12 weeks. Exactly how long the process will take will depend on the circumstances, including how efficiently your solicitor handles the process with you and how effectively they are able to communicate with you and your lender.

Can I sell my house if I have equity release?

This depends on the terms of the equity release scheme you have entered into.

If you have a lifetime mortgage, you can typically sell your home and repay the mortgage at any time, but you may have to pay an early repayment charge. If you are selling to buy a new property, your lender may allow you to transfer your lifetime mortgage to the new property.

If you have a home reversion plan where you have only sold part of the property to the scheme provider, then you cannot normally sell the remaining portion unless you are moving into long-term care.

How old do you have to be for equity release?

Equity release is typically only available for those aged 55-79, but each lender will have their own rules, so it is important to check this when looking into which type of equity release and which provider you wish to use.

Why choose Tayntons’ equity release solicitors?

Tayntons’ conveyancing solicitors in Gloucester have been supporting people with equity release and all other types of residential property conveyancing for many years. As well as properties in Gloucester, we also work with clients throughout Gloucestershire, including Cheltenham and the Forest of Dean.

Using our experience with all types of lifetime mortgages and home reversion plans, we will help to ensure that you fully understand the terms of the equity release deal you wish to enter, including what it means for your future and loved ones. We can then provide a safe, reliable conveyancing service to guide you through the entire equity release process.

We can also draw on expertise from across our firm to advise on issues such as inheritance planning which will typically need careful consideration when entering into an equity release scheme.

Our goal is to make it as straightforward and stress-free as possible for you to release equity from your home.

Tayntons was one of the first firms in Gloucestershire to be accredited by the Law Society’s Conveyancing Quality Scheme (CQS) for the excellence of our residential property services. We are also Lexcel accredited by the Law Society in recognition of our strong practice management and client care.

Get in touch with our equity release solicitors in Gloucester

Need help with a lifetime mortgage, home reversion plan or any other issues connected to equity release in Gloucester, Cheltenham, the Forest of Dean or across Gloucestershire?

Please contact our residential conveyancing team today by calling 0800 158 4147, emailing us at info@tayntons.co.uk or requesting a call back.

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    • Extra mile conveyancing
    • Because of your efforts and patience, we get to have Christmas in our new house! I’ve dealt with plenty of solicitors before, but you are the only one who is accessible, knows your stuff, your proactive and most importantly human. You went the extra mile. I can’t thank you enough!... Read more
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    • As a first time buyer I was always told the solicitors was the most frustrating part of buying a house but not in this case. Extremely prompt and helpful individuals. Everything met my needs without any complaints, no improvements were needed with the service I was provided.- Mr A... Read more
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    • I have had work handled by Sarah Mitchem before and that is why this is repeat business and I will be using her again in the future as well as recommending her services. A big thank you for a job well done as I can from time to time become awkward and Sarah handles me... Read... Read more
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    • Communication has been fantastic!
    • Your level of communication and immediate email response has been fantastic with just the right balance of formality and information, it made me feel comfortable and at ease. Every has gone smoothly and for that I thank you I would certainly recommend you to others. – Mr... Read more
    • Company who treated us a valued customer
    • It was good to deal with someone who communicated back to us and help make the process run as smoothly as possible, after past experience it was so nice to deal with a company who treated us as a valued customer, thank you. – Mr & Mrs... Read more
    • First time buyers
    • I would like to thank Penny for all of her help and advice. As first time buyers my partner and I went into our mortgage relatively blind but with a great deal of patience on our solicitors part we managed to get there without any problems and now we are proud owners of a lovely... Read... Read more
    • Very helpful
    • Tayntons are a very helpful, friendly and efficient firm of Solicitors offering a broad range of services. we have been very pleased with the service provided. Very helpful with our House sale conveyancing, we will definitely get Tayntons to do our house purchase later this year. – Mrs... Read more
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    • Just like to thank Sara for all her hard work and the whole process was made much simpler and easier. – Mr... Read more
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    • Thanks to you for your patience and perseverance. Thank you so much… I pray we have more business to do together again. It was a pleasure doing business with you. – Ms... Read more
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    • Sarah was truly on the case and I felt she did really care about my case. I am very happy with the job she did. – Mr... Read more
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    • Complete professionals
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    • Jane Davies was brilliant! She made the whole process of buying our first house very smooth and re-assured us all the way. – Mr & Mrs... Read more
    • Would use Tayntons again
    • This was my first time selling a property, there were a couple of issues which Tayntons sorted out so the sale of the property could go ahead. I would use Tayntons again that’s for sure. – Mr... Read more
    • Quick response
    • Thank you for all your help and support! I cannot fault any of the staff I was in contact with and my case leader, Amie Watkins, was incredibly helpful and quick in replying to any questions I had. – Mr... Read more
    • No hesitation in recommending
    • I personally had no issue with the service provided. As one who works in customer service, I was completely satisfied with the service provided. I would have no hesitation in recommending to those in Gloucester. – Mr... Read more
    • Would recommend
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    • Smoother and less stressful experience
    • If other parties reacted as quickly and efficiently as Tayntons, then house sales and purchasing would be a much smoother and less stressful experience. all unnecessary red tape is removed for a quick and easy response to any queries or questions. – Mr... Read more
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    • Very impressed with the service we received. We were on a tight schedule to complete which was achieved without any problems. – Mr... Read more
    • Super fast, kind and supportive
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    • All the family thank you so much for getting this through for us so quickly, efficiently and so thoughtfully. We all really do appreciate everything that you have done for us from beginning to end. We are absolutely delighted. – Ms L & Mr... Read more
    • Efficient and prompt
    • Sarah Turnbull was efficient, prompt and helped us a great deal when things were difficult. We are very grateful. – Mr... Read more
    • Extremely high standard
    • We have been very happy with your extremely high standard of work.  We are very happy and pleased it all worked out, given the delays at the other end of the chain that Sarah helped get us through. – Ms... Read more
    • Warm and friendly
    • Everything went well. Specifically the human contact was warm and friendly as well as professional. Thanks! – Mr & Mrs C,... Read more
    • Very grateful
    • Very grateful for your assistance and understanding during this emotional experience. – Mr C,... Read more
    • Good advice
    • Sarah Turnbull was excellent throughout the conveyancing process. She kept us informed, gave good advice and was patient when things got a bit... Read more
    • Acted in our best interests
    • We felt that you all acted in our best interests at all times, despite some very trying times with the vendors. We were kept well informed, sometimes receiving several emails a day, depending on the level of activity and the urgency of a response. We’re really very grateful for all the... Read more
    • Especially helpful
    • Jane Davies was excellent and kept us informed; especially helpful when the first sale fell through. Event completed in 20 days; a testament to her efficiency and organisation. –... Read more
    • A big thank you!
    • I would like to convey a big thank you to Sarah who helped me stay positive during a very stressful and stressing time for me. –... Read more
    • Nicola was extremely helpful throughout
    • Myself & my partner would like to thank Nicola Ross for all of her help throughout the process of buying our first house. Nicola was extremely helpful throughout the whole process. We would strongly recommend Tayntons to friends and family. Thank... Read more
    • Best conveyancing service ever
    • Nicola Ross is an incredible asset to Tayntons and has provided the best conveyancing service I have ever received. Her attention to detail, accuracy, efficiency, responsiveness and pleasant manner made the conveyancing process very easy. Even when Nicola was on holiday, she had sufficiently... Read more
    • A massive thank you!
    • A massive thank you to both of you for making the whole process smooth and pleasant. Thank you for fantastic communication, professionalism and kindness. Despite we both are nervous wrecks – we are happily installed in our new house and will never forget our first time buy home. You both have... Read more
    • Would recommend Tayntons again!
    • Have dealt with Jane twice before and will do so again. I also recommended Tayntons to a work colleague of mine and he too used your Residential Conveyancing team. –... Read more
    • Very prompt service!
    • Nicola always promptly responded to my enquiries (even if there wasn’t an update). She was able to answer all of my questions as a first time buyer. –... Read more
    • I was very impressed!
    • I was very impressed with my experience with Tayntons. I was always responded to straight away, and felt very at ease talking to Sarah. –... Read more
    • Not too much, not too little.
    • Not too much, not too little. Just about right. Good communication when Sarah was on leave and who was managing the case in her absence. Thank you very much for your hard work. It is much appreciated. –... Read more
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    • Although acting as a Power of Attorney, I was always aware that due attention was given to the interests of the actual clients. I could not have had a better, professional, reassuring and friendly relationship. – Keith... Read more
    • Informative, prompt and easy to understand
    • Jane Davies handled the sale of my deceased fathers house in a professional and caring manner. It wasn’t straight forward with bumps in the road, but she managed to steer through all the problems that occurred in a sensitive and kind way that I am very grateful for considering the... Read more
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    • I’ve used you before and will use you again. Nice to use a Solicitor who knows what they are doing and are efficient. Easily explained what I needed to do. Keep up the good work! – Ian... Read more
    • Very professional
    • I have completed on my purchase of my property and I am pleased that Tayntons Solicitors carried out all the work necessary in order to help me be successful in the purchase of my first home. I received the documents in a timely fashion with little stickers of where I was to sign. Claire was...... Read more
    • Thank you so much!
    • Thank you so much for a smooth transition. You were great to work with and made the process so easy. Thanks! –... Read more
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    • Will always use Tayntons, especially Jane. Have recommended her on several occasions and can’t fault the service. The letters were easy to follow and guidance notes were provided. Thank you. – Laura... Read more
    • Will always use Tayntons.
    • Will always use Tayntons, especially Jane. Letters were very easy to follow and guidance notes provided. Have recommended her on several occasions and can’t fault the service. Thank you – Laura... Read more
    • Great experience!
    • Another great experience dealing with Sarah. Difficult time selling my mothers bungalow and it was much easier dealing with Sarah. Thank... Read more
    • The service we received was second to none.
    • All correspondence from Sara was extremely prompt, professional and thorough, very impressive. Sara was understanding, we feel she was with us all the way on a rather stressful house buying experience. She was absolutely brilliant and we would highly recommend her to others, the service we have... Read more
    • Exemplary service
    • Third of my buy-to-lets dealt with by Sarah and because of her exemplary service I will continue to put my business her way in the future. –... Read more
    • Would totally recommend
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    • A massive thank you
    • I would like to say a massive thank you for the handling of my sale and purchase. I felt you did an outstanding job, not only dealing with me, but a sale and purchase in 7 weeks!! Your communication was excellent! Being ex military, I know it takes a team to make magic work and... Read... Read more

To contact us please call 0800 158 4147 or 03330 145451 or email info@tayntons.co.uk

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