How Much Is It?
Freedom Equity Release charge a fee of 0.5% with a minimum fee of £500. This fee is only payable if you decide to go ahead with our advice, and then only on successful completion. We will also receive commission from the lender (This will be clearly shown on your personal illustration)
Alternatively, we offer a fee only option, This is typically 1% of the loan amount, with a minimum of £500. Any commission that we receive will be refunded to you, or will be offset against your fee down to a minimum fee of £1500. An administration fee of £250 is payable if the application has been submitted to the lender but does not complete for any reason.
There may also be a providers arrangement fee (Often with the option to include this in the borrowing amount)
You may have to pay for a valuation of your property and your own legal fees.
(In this instance we offer customers the option to pay a fee only for our mortgage services. This is typically 0.75% of the loan on completion, with the lenders fee (typically 0.4%) refunded to you, or you can pay a fee of 0.25% of the loan amount and we then keep the lenders commission, which will be disclosed to you). We will carefully discuss this with you and let you know which option will work out cheaper for your personal circumstances.
This Website refers to Home Reversion Schemes and Lifetime Mortgages. To understand the features and risks, ask for a personalised illustration.
...in confidence to find out more and for a free, and without obligation, chat
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