If you’re thinking about releasing equity from your home, you need a solicitor acting for you alone, not the lender. Our equity release solicitors give you straight-talking, independent legal advice on lifetime mortgages and home reversion plans, so you understand exactly what you’re signing up to before you commit.
Equity release is a way for homeowners aged 55 and over to unlock the value tied up in their property, without having to sell up or move. It comes in two forms: a lifetime mortgage, where you borrow against your home and the loan is repaid when it’s sold, or a home reversion plan, where you sell all or part of your home in exchange for a cash lump sum while continuing to live there.
Both types let you access cash from your property while remaining in it, but they work in fundamentally different ways, which is exactly why independent legal advice matters before you commit to either.
Equity release services we offer
We provide independent legal advice on every type of equity release plan, acting solely for you throughout the transaction. Whether you’re taking out a new plan or dealing with an existing one, our team gives you straightforward guidance so you know exactly where you stand before anything is signed.
Lifetime mortgage legal advice
A lifetime mortgage is the most common form of equity release, letting you borrow against your home while retaining full ownership. We’ll go through the loan terms, explain how interest builds up over time, and make sure you understand what happens when the property is eventually sold. Our conveyancing solicitors in Manchester, Sale and Chester handle the legal side of lifetime mortgages for clients across the North West and beyond.
Home reversion plan advice
A home reversion plan involves selling all or part of your property to a provider in exchange for a lump sum, while continuing to live there. We’ll explain how this differs from a lifetime mortgage, including how it affects what’s eventually left in your estate, so you can weigh up which option genuinely suits your circumstances.
Advice where you already have a mortgage
If you still owe money on your home, equity release can usually be used to pay off the existing balance. We’ll liaise with your current lender and coordinate this alongside our mortgages and remortgages service, so everything completes smoothly.
Equity release alongside wider estate planning
Releasing equity affects what you leave behind, so it often makes sense to review your will at the same time. We’ll flag where this crosses into wills and estate planning, and can also advise on related property matters such as transfer of equity where ownership is being restructured.
How does equity release work?
The equity release process typically takes 6–8 weeks from instruction to completion, though this can vary depending on your provider and how quickly paperwork is returned. Here’s what to expect.
Financial advice and provider selection
Before any legal work begins, you’ll need regulated financial advice to choose a suitable plan and provider. We work alongside your financial adviser once this stage is complete.
Instruction and initial review
We review your provider’s illustration and offer documents, and explain the terms in plain English from the outset.
Face-to-face legal advice meeting
Equity Release Council standards require at least one in-person meeting with your own solicitor. We use this meeting to go through the risks, the compounding interest, and what happens on sale, so nothing is a surprise later. We’ve found clients often assume the legal advice meeting is a formality, it isn’t. It’s your main opportunity to ask the awkward questions before you’re committed.
Certificate of legal advice
Once you’re satisfied, we confirm to the lender that independent legal advice has been given.
Completion
We liaise with the lender’s solicitors to finalise the charge and release your funds.
Why choose Slater Heelis as your equity release solicitors
Straight-talking advice
Equity release is a big decision, and we won’t dress it up as anything less. Our solicitors explain the risks as clearly as the benefits, including how compound interest builds up and what it means for your estate. We’d rather you walked away with a plan that genuinely suits you than one we’ve talked you into.
We act for you, and only you
The lender appoints its own solicitor to protect its interests. Ours is there to protect yours. We go through every term of your plan independently, so you’re never relying on someone else’s paperwork to understand what you’re agreeing to.
Rooted in the North West, working with clients nationwide
We’ve supported homeowners across Manchester, Sale and Chester through property decisions for years, and that regional grounding means we understand the local property market as well as the legal process. We also act for clients further afield who want the same straightforward approach.
Trusted by thousands of clients
We’re accredited under the Law Society’s Conveyancing Quality Scheme and rated 4.9/5 on ReviewSolicitors from over 1,900 reviews. We were also named in the Times Best Law Firms 2026, recognition that reflects the consistency of our advice across the firm, not just in one team.
Joined-up advice when your circumstances are more than just property
Equity release rarely sits in isolation. If it affects your will or you need to review a Lasting Power of Attorney, we can bring in colleagues from our wills and estate planning team so everything is handled under one roof, rather than you having to coordinate separate advisers yourself.
Our team in Manchester, Sale and Chester is ready to give you clear, independent legal advice on your equity release plan, whether you’re just weighing up your options or ready to proceed.
Our offices in Manchester, Sale, and Chester are open for face-to-face meetings, and we regularly work with clients across the UK, with meetings at other locations available by appointment.
Yes, independent legal advice from your own solicitor is a mandatory part of every regulated equity release transaction. The lender appoints a separate solicitor to protect its own interests, so your solicitor is your only source of impartial advice on the terms, risks and long-term commitment you’re taking on.
Is equity release regulated?
Yes, equity release is regulated by the Financial Conduct Authority. Plans that meet Equity Release Council standards must include protections such as a no negative equity guarantee, a fixed or capped interest rate, and your right to remain in the property for life or until you move into long-term care.
How much does an equity release solicitor cost?
Equity release solicitor fees vary depending on your provider, plan type and property, so we’ll always give you a clear, upfront quote before any work begins. Costs typically sit alongside your provider’s own fees and any financial adviser charges, which we’ll help you understand as part of the process.
How long does the equity release legal process take?
The legal side of equity release typically completes within a matter of weeks once your provider and plan are confirmed, though the exact timing depends on how quickly your paperwork is returned and how responsive the lender’s solicitors are. We’ll keep you updated throughout so you always know where things stand.
What's the difference between a lifetime mortgage and a home reversion plan?
A lifetime mortgage is a loan secured against your home that you continue to own outright, with the debt repaid when the property is eventually sold. A home reversion plan involves selling all or part of your home to a provider now, in exchange for a lump sum, while continuing to live there under a lifetime tenancy.
Is equity release a good idea?
Equity release can be the right option for some homeowners and unsuitable for others, depending on individual circumstances, so it’s a decision that needs proper advice rather than a straightforward yes or no. It reduces the value of your estate and can affect means-tested benefits, which is exactly why independent legal and financial advice matters before you commit.
Can I release equity if I still have a mortgage?
Yes, having an existing mortgage doesn’t rule out equity release. In most cases, the outstanding balance is repaid directly from the funds released at completion, and we’ll liaise with your current lender to coordinate this alongside the wider mortgages and remortgages process.
Will equity release affect my benefits or inheritance?
Equity release reduces the value of your estate and can affect entitlement to means-tested benefits such as Pension Credit, since the cash you release counts as capital. We’ll explain how this applies to your circumstances, and where relevant, how it interacts with your will and wider estate planning.
How do I find reputable equity release solicitors near me?
Look for a solicitor regulated by the Solicitors Regulation Authority, accredited under the Law Society’s Conveyancing Quality Scheme, and experienced specifically in equity release rather than conveyancing generally. Our equity release solicitors in Chester, Manchester and Sale meet all three, and we’re happy to explain our experience with your specific plan before you instruct us.
What happens if someone lives with me who isn't named on the property?
Anyone living in the property who isn’t a legal owner will usually need to take independent legal advice and confirm they understand they have no right to remain there after you die or move into long-term care. We’ll talk this through with you early, since it can affect whether a particular plan is suitable for your household.
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