Overview
The equity release process is usually straightforward, but it should never feel rushed. A typical case often takes around 8 to 10 weeks from application to completion, depending on the property, valuation, and legal work.
Step 1. Initial chat and eligibility
We start with a simple conversation about your age, your property, and what you want to achieve. This helps confirm whether equity release could be an option and what type of plan may fit.
Step 2. Advice meeting
You will speak to a qualified adviser who explains how equity release works, the costs involved, and the risks. If it is suitable, you will receive a personal illustration showing the key details.
Step 3. Application and property valuation
If you decide to proceed, your application is submitted and a valuation is arranged on your home. The valuation helps the lender confirm the amount they can offer and whether any conditions apply.
Step 4. Offer and checks
Once the lender is happy, they issue a formal offer. Sometimes they may request repairs or extra information before the offer can be finalised.
Step 5. Legal work with a solicitor
You will need a solicitor to go through the contract and handle the legal side. This includes checks on the property and confirming you understand the commitment you are making.
Step 6. Completion and release of funds
When everything is signed and complete, the lender sends the money to your solicitor. Any outstanding mortgage or secured debts are usually cleared first, and then the remaining funds are sent to you.
If you would like a quick idea of figures before you speak to us, you can use our calculator for an estimate.
If you would like help understanding the process and what to expect, contact us today for clear, personal advice with no obligation.