next stepscrown equity release


	Step 1. IFA Taking out any type of equity release plan is going to be the biggest financial step you take in retirement. We understand this and want you to be sure that our plan is the best for you. At Crown Equity Release it is Independent Financial Advisers (IFAs), solicitors, accountants and other professional people who refer to us all the cases we handle. They have chosen Crown Equity Release for their clients, as they believe we offer the best plan and best value for their specific needs. We strongly recommend that you discuss what you are considering thoroughly with your family. If you do not have an IFA we can advise you on IFAs in your area who have experience in this field.


	Step 3. Completion When the Lease and Agreement have been signed your solicitor will receive your funds from the purchasers' solicitor and pay them to you; at no time does Crown Equity Release hold your monies. The only outstanding costs that you will have to pay are your solicitor fees. You are now free to continue to enjoy your home in the same way that you do now. Twice a year you will be asked to inform us of who is living in the property, e.g. a live-in carer who will be asked to sign a form agreeing to vacate the property when appropriate. You will also need to provide details of your building's policy insurance and once every other year we will visit you briefly to ensure that all is running smoothly or assist you if you would like to move home. In some cases your building insurance will be paid by the investor.


	Step 2. Application You will be required to complete an application form. Once you have completed one we will instruct a local firm of surveyors to value your property. In order for the property valuation to be completed we will require a cheque towards the cost of the survey, which will be refunded when the plan is legally completed. The plan can be completed within 10 weeks of inception, however situations may arise where this may take a little longer, e.g. problems with the title of your home. If there is any reason you would wish to withdraw from the plan this can be done prior to signing the legal papers.


	Step 4. Surrendering the Lease On the death of the surviving partner the lifetime lease is automatically surrendered. However your executors are given 30 days to clear the property and we will liaise with them on this. If a partial reversion has been taken then we will work with your beneficiaries to sell the property for the best possible price as this will be to everybody's advantage. Should they wish to buy back the investor's share they may do so at a price based on a revaluation of the property by the original surveyor or his successor.

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