Very often we are contacted by family members whose parents have sadly died leaving a property with an outstanding equity release loan secured against the property.
Under the terms of the equity release scheme, the property will need to be sold to repay the loan, and in our experience the interest that will be accruing on the loan will be exceptionally high – for this reason it is important that there are no delays obtaining probate, as ultimately you need to sell the property in order to avoid the interest escalating.
We regularly handle probate when there is an equity release scheme on a property – call us now on 0845 568 4000 or e-mail tim.murden@tmsolicitors.co.uk
