How much does equity release cost?
If you’re thinking about accessing some of your property wealth via a lifetime mortgage, it’s wise to spend some time understanding the fees and charges of equity release. As with a standard mortgage there will be set-up costs and fees to consider, in addition to the interest rate you’ll be offered.
Each provider will have their own fees and charges. For instance, some providers waive certain fees, while some fix the length of time that their early repayment charges will apply for.
To help you get a clearer picture of the costs of equity release, read on to explore the following:
- A quick outline of equity release
- Initial set up costs
- Interest rates
- Solicitor fees
- Early repayment charges
- Advice fee