Likely Costs

Whether you finally opt for a Lifetime Mortgage or a Home Reversion Scheme the provider will always wish to value your property. The fee charged, which varies based on the value of the property, is normally paid by yourself on application but in some instances is refunded on completion of the transaction.

To ensure totally unbiased advice free from any accusations of conflict of interest your solicitor will only act for you while a separate solicitor is engaged by the product provider to act for them. You will pay your own solicitor's costs while the providers legal costs are mostly absorbed by an arrangement fee which is charged by the provider on completion of the transaction.

It is quite common for the provider to make a small charge to inspect your existing buildings insurance policy and also pass on any bank costs for telegraphic transfer of the money on completion.

Mature Solutions charges.

All initial consultations are provided free of charge in the comfort of your own home.

After a full fact-find your options are discussed, the advantages and disadvantages of each scheme are examined and the alternatives to equity release looked at as well as any benefits (pension credit, council tax benefit and grant aid) you may be entitled to.

A full written report, unique and exclusive to you is then produced. You can then use this report to discuss the matter with your children, any other beneficiaries to your estate or friends and acquaintances.

Should you then wish to proceed with an equity release product, Mature Solutions will call at your property once more to complete all the necessary paperwork, liase with all interested parties and track the case through to a swift and hopefully smooth conclusion keeping you informed at all stages along the way.

For our advice and services Mature Solutions will make a charge of £495 which is asked for on completion of the transaction.