Equity Release Solicitors

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.

Tayntons conveyancing quality
    • 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! – Mr H

    • First time buyer
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    • We just wanted to say a big thank you for all your support and expert advice that has seen us get on to the property ladder. We must say that you have been very patient with us and extremely helpful throughout the process, and we would not hesitate once to recommend you or Tayntons within family and friends. Moreover, we can confidently say that for our next property transaction we don’t need to scout around for good solicitors as we have got the best one. – Mr & Mrs S

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    • Penny Foley recently acted for us on a sale/purchase as we moved home. By the time things started moving, it only took a few weeks  perhaps 6 for the whole thing to reach completion, which was great for us. She has always been friendly and courteous on the phone, and easy to get hold of. And it goes without saying, completely professional and thorough. We’re really pleased with what she’s done for us and already plan to use her again in the near future. – Mr B

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      Miss B

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    • Competitive fees with no add ons
    • We instructed Tayntons to act on our behalf for the sale of my late parent’s country home. Penny Foley was incredibly patient and hard working in what proved to be a rather complicated sale. What really surprised me was how incredibly competitive the fees were with no nasty add ons. – Ms R

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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 brilliantly and is the consummate professional. – Mr W

    • First class service from conveyancing
    • First class service through out, Penny took the time to explain everything clearly and kept me informed at every stage, without any need for prompting. I have already recommended Tayntons to friends and Penny will be the first person I call to act on my behalf in the future.- Mr H

       

    • Good communication
    • Jaron and the team at Tayntons made moving house a breeze. Good communication at every step of the way! Will be using them again for all of my legal needs! – Mr M – Gloucester

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    • My wife and I recently used Tayntons for the purchase of our first home. The service we received from Tayntons was impeccable. She communicated with us frequently and successfully steered us through the process with ease. We cannot recommend her (and Tayntons) highly enough. – Mr D

    • Stress & trouble free service
    • I recently instructed Tayntons in connection with the purchase of a property. The service was friendly and efficient , Jim and Samantha efforts ensured that a potentially fraught undertaking was stress and trouble free. I would unequivocally recommend this excellent legal practice to anyone – Mr L

    • 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 W

    • 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 D

    • Wonderful service
    • A very big thank you for your wonderful service in completing our sale. – G & P

    • 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 home. – Mr W

    • 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 F

    • Simpler and easier
    • Just like to thank Sara for all her hard work and the whole process was made much simpler and easier. – Mr S

    • Hard work, patience and professionalism
    • Thank you for all your hard work, patience and professionalism during this house purchase and completion. It has been a real pleasure dealing with you, we both think you’re absolutely fantastic and we will be recommending you to our family and friends. – Mr & W

    • Patience and perseverance
    • 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 O

    • Delighted to have been represented by you
    • We can’t praise your Professionalism enough. You’ve been very helpful throughout 2 property buying transactions, keeping us informed & answering queries at every stage.  You did everything within your power to work with us to make this a Happy move. We’re delighted to recommend you to anyone requiring an Efficient, Positive, Professional Solicitor with a sense of Humour. We are delighted to have been represented by you.  – Mr and Mrs C

    • Highly satisfied
    • Jane Davies – excellent interface. Highly satisfied. – Mr K

    • Most impressed
    • Tayntons and in particular Sarah Mitchem, were recommended to me and I have been most impressed and will recommend them to others. – Mr E

    • Truly on the case!
    • 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 V

    • Patience and understanding
    • I was delighted with the service I received. Although things at times got a little frustrating. I was dealt with patience and understanding. Thank you for your efforts, the service was excellent. – Mr H

    • Complete professionals
    • Jane, Sarah and their assistants provided us with fantastic service throughout the sale of our property. Although the sale fell through twice, Jane, Sarah and the team were complete professionals, reassuring us through what was a very stressful time. – Mr L

    • Brilliant!
    • 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 G

    • 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 B

    • 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 M

    • Professional yet friendly service
    • Professional yet friendly service. My queries were always answered very promptly and I was always provided with accurate, personalised advice. – Mrs W

    • 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 L

    • Would recommend
    • I have used Tayntons for the last 2 purchases and a sale now and would use again and recommend. – Mrs W

    • 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 B

    • Very impressed
    • Very impressed with the service we received. We were on a tight schedule to complete which was achieved without any problems. – Mr S

    • Thank you!
    • Thanks for a great service during a difficult time. – Mr & Mrs H

    • Super fast, kind and supportive
    • I just want to say a huge thank you for guiding us through the house purchase. You’ve been super fast, so kind and supportive and it’s been a pleasure working with you. I’ve been so impressed, it’s actually been a pleasurable experience dealing with the team and Jane. I’m so grateful to you all. Thank you very much! – Ms P

    • Quickly, efficiently and so thoughtfully
    • 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 S

    • Efficient and prompt
    • Sarah Turnbull was efficient, prompt and helped us a great deal when things were difficult. We are very grateful. – Mr T

    • 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 S

    • Keep it up!
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    • Warm and friendly
    • Everything went well. Specifically the human contact was warm and friendly as well as professional. Thanks! – Mr & Mrs C, Gloucester

    • Helpful company
    • Most helpful company I have had dealings with. – Mr W, Gloucester

    • Very grateful
    • Very grateful for your assistance and understanding during this emotional experience. – Mr C, Gloucester

    • 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 confusing!

    • 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 efforts from all of the members of your staff that were involved in our purchase. Very glad that it is over, and that we do not have to consider the housing association in our dealings again. When we consider the amount of the time and the work you had to do, we feel we certainly receiving value for money. Thank you all very much. – Mr P, Gloucester

    • 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. – Kevin

    • 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. – Amanda

    • Thank you for your assistance and support!
    • Thank you for all your assistance and support. I will definitely use your professional services again and I will also be proud to recommend you to others. – Mr E, Gloucester

    • 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 you!

    • Easy communication
    • Very helpful with the legal technicalities, friendly and easy to communicate with.

    • 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 briefed her cover to address issues without incurring delays. A very impressive service and a truly grateful client.

    • 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 done a great job!

      We will always recommend your service and definitely come back in the future! Thank you so much! – Ms M, Gloucester

    • Everything was perfect!
    • Everything was perfect and we were delighted with Jane. Shortly we hope to use her services again! – Sarah

    • 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. – Janet

    • 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. – Jonathan

    • 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. – Jane

    • 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. – Claire

    • Always recommend to anyone.
    • Having used Tayntons personally and for business, I would always recommend them to anyone – Robert Buckley

    • Very thorough and professional.
    • Sarah was brilliant throughout, very thorough and professional.We would definitely recommend Tayntons & use them again in the future.

    • Professional, reassuring & friendly
    • 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 Parr

    • 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 circumstances. She was also very friendly and explained things carefully and thoroughly to me at a difficult time. I will not hesitate to recommend her to anyone and will definitely use her services again should I need to! Jane was informative, prompt and easy to understand. Many thanks to her and her team! – Alexandra

    • Keep up the good work!
    • 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 Ruxton

    • 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 always at the end of an email if I didn’t understand anything or if I just had a general enquiry. Very professional.

    • 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! – Oliver

    • Satisfied with the service
    • I have been satisfied with the service, there were delays but they were caused by the buyer. – Christine

    • Will always use Tayntons
    • 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 Gilder.

    • 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 Gilder

    • Great experience!
    • Another great experience dealing with Sarah. Difficult time selling my mothers bungalow and it was much easier dealing with Sarah. Thank you!

    • 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 received is second to none. – Louise.

    • 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. – Neil.

    • Would totally recommend
    • Sarah handled our house move really well. We would totally recommend and have recommended Sarah and Tayntons to friends and family. – Marie.

    • 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 your only as good as your team! Gouri is a great member of your team and I felt she kept me well informed and relaxed with her reassuring emails, followed up with ‘nothing to worry about’ calls. Today I read on the BBC news website about a couple losing their dream home as they were in the same situation as me and their Freehold was hard to sell because of land management problems. So I feel fortunate.

      I again express my full heart thanks to Gouri and the other Solicitor working Exchange on completion. I am fully aware that you did set everything up so it would run smooth. I am the happiest I’ve been in years, I’ve settled after an overwhelming Friday into a lovely apartment, where I feel secure and relaxed. Many thanks to you and your team. -Matthew.

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