Paul and Margaret wish to reduce their potential inheritance tax liability and maximise the amount they can pass on to their children. They also want to maintain their current standard of living and have the flexibility to access additional funds if needed.
Property Conveyancing
Equity release – expert legal and financial guidance
Release the equity in your home with help from our legal and financial experts. We’ll advise on whether its right for you and find the best options.
112
years of service
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experienced partners
400+
advisers and growing
Release the equity in your home to help you towards your financial goals
What is equity release and how can it help me?
Equity release is a specialist type of mortgage, provided mainly for people over 55, which frees up the equity tied up in your property. Whether you want to help family members with school fees, get them onto the property ladder, move to a larger property yourself, pay off debt or simply have more readily available cash for a better lifestyle, equity release is a way of doing this.
Equity release – one step at a time
Using the equity in your home can be a good way of helping you achieve your financial goals. The first step for our equity release team is to help you decide whether equity release is right for you. The team will show you the long-term implications and then, if you decide to go ahead, find the plan that best suits your needs.
"Tees Law boasts a team of solicitors with deep expertise in various legal fields. This multi-disciplinary approach allows the firm to provide comprehensive solutions tailored to client needs" Legal 500 2026
Are there any tax implications or impact on benefits?
Any cash released on your home is tax free, but there may be implications for your general tax position or any benefits you receive. Your equity release adviser explain any possible issues.
What else should I consider when taking out an equity release plan?
Whenever there are significant changes in your financial situation, you may need additional help with legal and financial matters, for example making changes to your will, or reviewing insurance and life plans. As a full-service law firm with our own independent financial advisers, we’ve got everything covered for you.
How does the process work?
Once your lender has given you a formal offer, our equity release conveyancers will:
- go through an identity check
- meet you face to face (as required by the Equity Release Council)
- ensure your property paperwork is in place – check title deeds and make sure you have adequate buildings insurance
- pay off your existing mortgage with your equity release fund, if that is part of your plan
- agree the completion date with your lender and arrange for transfer of the money to your bank account
If you have an existing equity release scheme, we can help you move it to a different property.
Equity release is complex, and it’s important to understand all the risks and benefits. If you decide to take out a plan, make sure it’s with a lender approved by the Equity Release Council.
You can get support for the following areas of equity release
- lump sum equity release plans
- drawdown equity release – equity as a regular income
- lump sum and drawdown combined plans
- equity release impact on tax and pensions
- equity release impact on benefits.
Legal and financial advice under one roof
Tees is a top-tier Legal 500 firm offering joined-up legal and financial services. We have our own independent financial advisers (IFAs), who work closely with our property lawyers, so we can help with any financial issues relating to buying and selling property.
Our advisers provide holistic financial planning, and as we are not connected to any one provider, we can offer a whole-of-market approach for the range of products we can advise on. We can also give independent advice of a whole range of insurance products to protect you and your family. Our IFAs are regulated and authorised by the Financial Conduct Authority, which means we’re accountable for the advice we give.
Get in touch today, we’re here to help
Our clients range from high-net-worth individuals with complex finances to those with more straightforward needs. We also specialise in the agricultural sector, having a sound understanding of the relationship between business and personal needs.
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Equity release and lifetime mortgages FAQs
How much equity can I release?
This varies based on your circumstances, age, property value and plan chosen.
Are there any fees?
For initial lending there are arrangement, solicitor and advice fees. For further lending valuation fees may apply.
Will I pay tax on the cash released?
No, any cash released is tax free.
Would this affect my tax position or state benefits?
Depending on your personal circumstances, these could be affected so please discuss matters with your equity release adviser.
Are there any restrictions?
Yes, there are restrictions on some types of property that may be eligible for a lifetime mortgage.
Do I still own my home?
Yes, and you live there until you move into long-term care or pass away.
Can I move?
With a portable plan, you can take the plan with you if you move. Please note, there are restrictions on the types of property that may be eligible for a lifetime mortgage.
Can I end my plan early?
Some plans allow you to repay the whole loan and interest – please note there may be an early repayment charge which can be expensive.
Can I borrow more if my property value increases?
Some plans allow you to repay the whole loan and interest – please note there may be an early repayment charge which can be expensive.
How is my lifetime mortgage paid off?
This varies based on your circumstances, age, property value, and plan chosen.
Can I leave inheritance?
Although a lifetime mortgage reduces your home value, any remaining money left in your property will be left to your estate.
Who sells the house?
You or your solicitor will sell the house if you go into long-term care, or if you pass away by the person who is looking after your estate.
Our experience in equity release
This material is for informational purposes only and does not constitute an offer or solicitation for the purchase or sale of any financial instrument. It is not intended as accounting, legal, tax, or investment advice. Past performance is not indicative of future results, and all investments carry risks, including the potential loss of capital.
Tees is a trading name of Tees Financial Limited, authorised and regulated by the Financial Conduct Authority (FCA), Registered number 211314, and registered in England and Wales (Company number 4342506).
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