Costs
EQUITY RELEASE WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.
Costs of Equity Release Schemes
An equity release scheme will have associated costs from the initial set up of the plan and where relevant ongoing costs.
Costs to consider:
- Arrangement Fees to the provider
- Legal Fees
- Valuation Fees
- Maintenance costs of maintaining your property, which is still the borrowers responsibility
- Insurance costs which will include appropriate buildings insurance.