What is an Equity Release Scheme?
It is important you get legal or financial advice prior to applying for an equity release scheme as often they are not be as suitable an option as they may first appear. Ensure that the firm you are getting the deal with is regulated by the central bank. All firms in Ireland that provide lifetime mortgages or home reversion schemes must meet the conditions of the Central Bank’s Consumer Protection Code and must tell you about the schemes’ costs and risks before you enter into the deal.
As with any legal consideration entered into by seniors, we advise that if you are considering applying for an equity release scheme contact Cahir & Co. Solicitors, we can look at your situation and our experienced team of solicitors will advise you as to which type of scheme is right for you.