How much does equity release cost?

Advice on Equity Release costs

How much does equity release cost?

A simple list of costs that you may expect to incur when arranging an equity release scheme

Equity Release Company Fees

• Survey Fee £300 to £500 (many lenders offer this for free as part of the application
• Application Fee - some lenders may ask for an upfront administration fee just to ensure you are serious.

Legal Fees

• This is like any other mortgage or property sale/purchase expect to pay between £500 and £1000 depending upon the value of your home. 
• We can search our database for a low cost lawyer is you wish.  Contact us.

Financial Adviser Fees

• Equity release has to be advised on by a suitable qualified financial adviser.
• Equity release high risk advice and the adviser has a duty to protect you and make sure you get the right advice.
• They are responsible for the advice that they give you.
• Expect a fee of around £1200 to £1500. 
• Many equity release firms allow some or all of your adviser fee to paid for from the equity release charges (this used to be known as a commission).  You can use this to offset against you adviser fee. 

In total, expect fees of around £2000 to £2500.  You should be mindful of these costs when arranging an equity release scheme.

Contact  Call Me  Calculators  £ Fees