Parker Bullen are proud to become Equity Release Council members

AuthorRebecca East

We are delighted to have become members of the Equity Release Council, reinforcing our commitment to providing expert legal advice while adhering to the Equity Release Council’s strict code of conduct. Ensuring you receive sound advice when considering Equity Release is crucial to enable you to make the right decision with all of the facts. Rebecca East, Senior Associate Solicitor within our Residential Property department, explains more here about how Equity Release works and why our appointment to the ERC is an important step in providing this advice.

What is Equity Release?

Equity Release is an option only available to those aged 55 and over, allowing homeowners to release equity locked within their property. This method is often favoured as it can secure a loan against your home while you continue to live there, without the consideration for repayments until the property is sold. You may be looking to release equity in your home for several reasons, for example, if you wish to:

Gift money to your children to help them onto the property ladder,
Book a once in a lifetime holiday,
Make home renovations or adaptations,
Have more financial freedom throughout retirement.

Whatever the reason is, Equity Release can be tailored to your specific situation and your financial goals.

There are two types of Equity Release; a Lifetime Mortgage or Home Reversion Scheme. These schemes differ in the method of repayments and interest calculations so it is important to understand the difference. The best option will depend on your individual circumstances which we can discuss with you in detail; to learn more about the options and benefits of Equity Release head over to our “What is Equity Release?” page, where we discuss everything you need to know.

What is the Equity Release Council (ERC)?

The Equity Release Council represents the sector by setting out and establishing high standards of conduct and practice, ensuring that those who use an Equity Release Council Member receive expert advice. Choosing a member of the Equity Release Council means you can trust the guidance provided. To find out more, head over to the Equity Release Council website.

Rebecca commented about the appointment to the ERC, “We understand that releasing equity from your home is a significant decision that will have an impact on various other areas in your life, for example when making plans for your estate in the future. As Equity Release Council members, we can ensure that you receive expert advice to enable you to make the right decision for your future. We will take the time to explain the options to you, taking into consideration your own personal situation, before assisting with the next steps.”

Contact our Equity Release Solicitors

If you are considering Equity Release and would like to discuss the options available in further detail, our Property team are here to find out more about your situation and offer you tailored advice. Our experts, Rebecca East and Alison Daubney, are proud members of the Equity Release Council and are here to support you based on your individual needs. To contact them, use our Contact Form, email info@parkerbullen.com or call your local office from the numbers below.