Borrowers need to instruct and meet with a solicitor on issue of their lifetime mortgage offer or equity release offer.
I offer a tailored package with a personal service and I hold the experience to deal with these transactions.
Lifetime mortgage lenders insist on a solicitor rather than a conveyancer. This is due to the higher risk and to ensure that appropriate advice and expertise are employed.
This type of mortgage will reduce equity in your home and that will affect your family on your passing. Relatives will inherit less and may struggle to cover your funeral costs. As a result they may take legal action. Hence the higher risk for the acting law firm.
To ensure you fully appreciate and understand the risks an in-person meeting, or video call, will be necessary and will form part of your lender's requirements. On occasion home visits can be arranged but these are chargeable per visit.
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