Find a solicitor
Why do I need a solicitor?
Once you have decided to proceed with an equity release plan, your next step is to instruct a solicitor to complete the legal paperwork and represent you.
It is a requirement of SHIP (Safe Home Income Plans) that:
- your legal work for your equity release plan is performed by a solicitor
- your solicitor is independent of the equity release plan provider
- your solicitor signs a certificate to confirm that you have been properly advised on your equity release plan and that you understand the implications of taking out your chosen plan. No SHIP approved equity release plan can complete without a signed certificate from your solicitor.
Your solicitor will play a crucial role throughout your equity release scheme application, so it's important that you choose the right one.
Can I use my own solicitor?
This will depend on the skills and experience of your solicitor. It is entirely your decision whether you use your own solicitor for your equity release plan, but experience can count for a lot as it often helps to speed up the processing of your case if they have a high level of knowledge, understanding and experience in dealing with equity release.
Equity release is a specialist area within conveyancing and the paperwork is different from the normal paperwork that a solicitor may be used to. For this reason, choosing a specialist solicitor experienced in dealing with equity release schemes can often save you both time and money.
A specialist solicitor is also able to keep up with new products and legislation changes within the equity release industry. This in depth knowledge and understanding of equity release schemes enables them to explain everything to you in plain English, explaining any legal jargon.
How do I find an experienced solicitor who specialises in equity release schemes?
This can be difficult as there is often a lack of publicity from solicitors who specialise in equity release schemes. Your adviser may be able to put you in touch with an experienced solicitor from your area, or you can call the Law Society who may be able to help you.
It's useful to know that you don't always need to live locally to your solicitor's office, as they can often manage your equity release case over the telephone and through the post.
You may just need to arrange one meeting with them for your signature to be witnessed. They can normally arrange for you to see a local solicitor to do this.
Please contact us for details about solicitors specialising in equity release schemes that cover your area.
Any solicitors we suggest to represent you during your equity release application are completely independent from Key Retirement Solutions.
