Your property may be worth a lot more than the amount of any mortgage that is secured on it, so that you have a lot of "equity” in the property.

People who find themselves in that fortunate position often like to release some of that equity without them having to sell and move out of the property.

There are several ways to release value from your home.  The simplest way is to take out a mortgage on the property.  The main reasons for doing this are to get a better deal than your current mortgage or to increase the amount of your current mortgage to raise some additional capital.

Most mortgages are taken out with High Street lenders and we can deal with the legal side of these transactions. We can also help where you want to borrow money privately from a friend or family member where you are giving them a charge over your property as security for their loan.

There are also a number of Home Equity Release schemes available where you take out a loan which is secured against your property and which is only paid back when the property is sold or when you die. You do not have to make any monthly payments under these schemes which may sound attractive, but there are other factors that need to be taken into account.  We are happy to provide advice on all aspects of these schemes if needed.