Coodes Solicitors has launched a new service to help people release the value tied up in their property – creating a tax-free cash sum to use when they need it.
Even before these current testing times, an increasing number of people were looking to make the most what was often their biggest asset.
Now Coodes has introduced a service providing legal support to help people borrow against the value of their home while continuing to live in it – a process known as equity release.
Equity release is particularly popular amongst the over 50’s who appreciate the opportunity to generate a tax-free lump sum.
Alistair Whyte, residential property partner, said: “Equity release is increasingly becoming the most positive option for people, particularly those in later life, who are looking for a cash injection to fund retirement or to support children onto the property ladder.
“Many law firms no longer offer this service because it carries an element of risk. However, we’d like to build on our relationships with financial advisors and brokers working in equity release to offer independent legal advice.”
Coodes’ equity release service provides independent legal advice for people entering an equity release agreement.
Coodes does not advise on the financial aspect or benefits of any equity release scheme; instead the firm is offering independent legal advice necessary for the transaction to go ahead.