The mortgage definition for Equity release:
Equity release or home income schemes allow you to generate either a lump some or a regular income in return for allowing the lender to take ownership of a portion of your home. These are often used by people in later stages of life who have paid of all or most of their mortgage and who are looking to raise funds without borrowing money.
Deeds release feeDeeds release fee
When you are selling the house, your solicitor will need to inspect the deeds. You will be charged a fee of between £25 - £45 for this.
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