Equity Release definition
Examples of Equity Release in a sentence
The £475 is payable upfront and is only refundable if we cannot find a lender to place the Equity Release scheme with.
Fees for the arrangement of mortgages (including Equity Release) may be partially paid by the lender, the balance (if any) to be met by you.
We will record all transactions on our files which along with copies of relevant documentation, will be retained by us for a period of not less than six years, or three years from the end of your Equity Release Mortgage if longer.
We will invoice you directly for our fee of £750 for arranging a mortgage and up to £1,500 for an Equity Release loan.
Please note that a ‘lifetime mortgage’ (a type of Equity Release Scheme) may be available and, where appropriate, we will provide advice based on your personal circumstance if this is identified as the best solution.
We can advise on and arrange Life Assurance, Protection & General Insurance, Mortgages, Equity Release and Financial Planning.
You may contact the Equity Release Council (▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/consumre-information) for more information on these types of mortgages.
Additional relevant services may be offered and provided by Mushroom Ltd who support our Equity Release offerings.
For Mortgage and Equity Release advice our minimum fee will be £900 which will be discounted by any fee we receive from the mortgage lender.
The sum of the Thermo Contingent Equity Account and the Borrower Contingent Equity Account is at any time prior to the Contingent Equity Release Date less than the Contingent Equity Required Balance.