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Unlock the value of your home Looking to boost your retirement income? Equity Release could hold all the answers, with expert help from Tees Law
T here are lots of reasons to consider Equity Release – a financial option for homeowners aged 55+ that enables you to unlock the value tied up in your home. It’s most attractive for those who want to supplement their income, fund home improvements, support family or manage debt without selling their home. There are two main types: a lifetime mortgage, where you borrow against the value of your home, but the loan is repaid
either when you pass away or move into long-term care; and home reversion plans, which involve selling part of your property while retaining the right to live in it until death or entering care. Lots of our clients have pension income to cover daily bills, but sometimes it’s not quite enough,” says Toni Chalmers- Smith, an independent financial adviser who works for Tees Financial. “Clients are not necessarily wanting a lump sum to blow on a holiday; more often they want to maintain a certain standard of living to enjoy life in retirement.” Whatever your
If the process leads to a mortgage offer, Senior Associate at Tees Law Catherine Banks will take clients through the small print. “I’ll meet with the client face-to- face to provide specialist legal advice in accordance with standards set by the Equity Release Council and address any questions they might have.” Catherine will also make sure the title deeds of the property are in order and works closely with her colleagues in the Private Client team if advice is required to set up a power of attorney or to review a client’s will as
part of the Equity Release process. The fact that Tees combines both legal and
There are lots of new protections for Equity Release now – it’s a more positive way of drawing down money
reasons to unlock a lump sum, it makes sense to talk to the experts at Tees Law and Tees Financial Ltd. Established 110 years ago, the
Find out more at teeslaw.com or contact the team today on 01279 755200. Visit the Cambridge office at No 3 Journey Campus, Castle Park, Castle Street CB3 0AY to all the experts you need under one umbrella. “We are dedicated to ensuring good customer outcomes for our clients,” explains Catherine, “and it is essential to instruct a solicitor and financial adviser who have the knowledge and skills to achieve this.” financial services – which includes conveyancing, family law, wills and probate – means you have full access
company offers a wide range of legal and financial expertise all under one roof, with a wealth of independent advisers regulated by the Financial Conduct Authority, Equity Release Council, Solicitors Regulation Authority and Society of Later Life Advisers. Toni’s role is to help clients explore their options. “We follow a very strict code of conduct,” she says. “We’ve got to make sure that the client understands all the pros and cons, and we have to assess their full financial situation before we can do any research or make any recommendations.”
LEGAL AND FINANCIAL AID Catherine Banks (top) and Toni Chalmers-Smith (bottom) are just two of the many expert advisers at Tees
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