The Equity Release Process
On Receipt of Instructions
- Acknowledge receipt of instructions to the client and the introducer
- Send a Terms of Business letter to client
- Request ID
- Request Redemption Statement(s) from current lender(s) - if applicable
- Request Title Deeds (If Leasehold - request details of freeholder from client/introducer)
On Receipt of the Lifetime Mortgage Offer
- Report on offer & prepare Mortgage Documents (and Transfer Documents if applicable) for the client
- Confirm completion statement and fees with client and introducer
- Set completion date - 20 days
- Forward signed documentation/SHIP certificate and replies to lender requisitions
On Completion
- Receive balance of funds from lender's solicitors
- Pay any balance due to the client
- Pay any fees due to the introducer within 48 hours
- We aim to complete within 20 days of receipt of the mortgage offer
Please note that cases which are unregistered or leasehold or involve a transfer of Equity or Home Reversion can take longer to complete. Also please note in such cases extra charges may be applicable.