Equity Release Criteria

Equity Release Criteria

There are conditions that homeowners need to meet before taking out equity release:

• For a lifetime mortgage you (and your partner) need to be at least 55 years old;

• For a home reversion scheme you (and your partner) need to be at least 65 years old;

• You must own property in the UK;

• The property must be your main residence;

• If you have dependants living with you it is important to speak to an adviser for more information as equity release may not be suitable; 

• The money released must be used to pay off any existing mortgage or loan secured immediately. You are free to use whatever money is left over for your other financial needs;

• Your property must be in a reasonable condition and over a certain value. There may also be restrictions on the type of property accepted.

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What our clients say...

I went along to Kirwans Southport to sort my Will out which is not the nicest thing to do so I was a little apprehensive. I had an appointment with [Claire Hamilton], who I had never met before. She was charming, knowledgeable and very understanding. Claire put me at my ease and what I thought was going to be straight laced and a chore turned out to be a relaxing but very informative meeting. I would like to thank Claire for the time she took and her general manner at the whole meeting and I would have no qualms in recommending Kirwans and especially Claire to anyone. I, of course, had my Will and other legal matters totally sorted out. Thank you again Claire.

David Smith - Portland Wine Cellars Southport