Costs of Equity Release Schemes

Take into consideration that when entering into any type of equity release scheme there will be set-up costs and ongoing costs which can include:

1. Arrangement Fees payable to the lender
2. Legal Fees
3. Valuation Fees
4. Maintenance costs - you are still responsible for the maintenance of the property
5. Insurance costs - maintaining adequate building insurance
6. Loss of income, such as reduced eligibility for means-tested benefits