Equity Release

Interested in freeing up some of the equity in your house?

If so call us free on 0800 083 4646

Equity Release

If you are over 55 and own your own home you may qualify for Equity Release. Equity Release is a plan which allows you to release the value in your home for you to use as you like. You could use the money on any item you wish and, because the equity in your property is your asset, you will not be taxed on it.

The world of equity release has seen substantial growth in the past few years with many organisations now offering their services in this sector. Whilst Equity Release can seem an ideal solution it is not for everyone. Understanding exactly what is involved is vital if this is something that you are seriously considering.

At Hamilton Locke we make sure that we only work with reputable companies who can be relied upon to give only the best advice possible to those people who need help and assistance. Hamilton Locke is uniquely placed to be able to point you in the right direction once we have taken a complete note of your personal circumstances. In order to find out if there is a plan out there for you then call us free now on 0800 083 4646 or email us your personal details using the form on the right. We will then call you back at a time to suit you.

Fees & Information

We cannot guarantee a reduction in interest or charges. If an IVA is not maintained it could lead to bankruptcy. Whilst initial debt advice is free, fees will be charged if a solution is taken out.

Fees related to Debt Management Plans are in two parts;

"Initial Fee" means your first two "Monthly Payments", which is paid by You to "Us". This represents our fee for establishing your arrangement, and therefore is not distributed to your creditors, and can be paid in two separate instalments. Retention of this fee will put you into further arrears.

"Monthly Fee" means the Fee payable for our Services each month. This is an amount equal to 17.5% of your "Monthly Payment" (apart from your first two "Monthly Payments" which is the "Initial Fee"), subject to a minimum payment of £30 for disposable incomes of 0 - £100, and £35 for disposable incomes of £100.01 - £200.

Fees incurred for Individual Voluntary Arrangements are variable dependent upon the monthly contribution to the arrangement and the agreement that is reached with your creditors. Fees are made up of Nominees fees relating to assistance given to prepare your proposal and Supervisor fees which relate to the ongoing monitoring of your IVA. Fees are already included as part of your monthly contribution. The level of fees and the method of payment are both agreed by your creditors at the outset of the arrangement.

A record of your agreement with us will be held on your credit file for up to six years, and your ability to obtain credit in future may be affected.

You are provided a cooling off period of fourteen days from the date the agreement was deemed to commence, during which you may cancel our agreement. Should you give notice to us that you would like a refund of a payment, or payments, (being other than the initial fee) then where no distributions have, at that time, been made by us, or are in the process or course of being made by us, in respect of that payment or payments this will be made in full (i.e. without deduction of our fee of 17.5%).

Debt Management Plans | IVAs | Debt Help

Equity Release

Equity Release

Fees & Information