Once ‘Aspire Financial planning’ has recommended the most suitable Equity Release plan you will need to appoint your own solicitor to represent your interests.
A solicitor is required to ensure you receive independent legal advice about the risks, rewards and obligations associated with an Equity Release plan.
Your chosen solicitor will carry out the conveyancing required to ensure that your new Equity Release Lender is able to secure a first legal charge against your property and that any existing secured borrowing has been (or will be) repaid.
If you are unsure as to who to appoint as your legal representative we can act as an introducer for you to help with finding a suitable solicitor. Once instructed, your solicitor will send you an engagement letter and terms of business.
The engagement letter will give you all the information you need about how much the legal process will cost.
The solicitor will also give you an overview of what they will do for you in return for the fee and an estimate of how long they think it will take.