5 min read
If you’re considering equity release, one of the first things you’ll want to know is how long the process takes. Here we outline the full equity release timeline, highlight what can cause delays and explain what you can do to speed up the process.
)
Equity release usually takes 6–8 weeks from application to completion
Valuation and legal work cause the biggest delays, while complex property issues (title, lease or ownership) can extend the timeline
Being document-ready and choosing an experienced adviser can speed things up.
You can also jump straight to our frequently asked questions about equity release timelines below.
Equity release usually takes 6–8 weeks from application to completion. The exact timeframe can vary depending on the type of equity release, your personal circumstances, and how quickly legal and financial paperwork is completed.
While the overall process of equity release takes between 6 and 8 weeks, it’s important to understand the key stages involved. Here’s an overview of the typical timeline:
The process starts with a consultation with a qualified equity release adviser. This is where you’ll discuss your financial situation, the different types of equity release products available, and whether equity release is right for you. This stage typically takes around 1-2 weeks, depending on your availability and how quickly you can provide the necessary details.
After the consultation, your adviser will present you with a recommendation based on your circumstances. This is where you will decide whether to proceed with the equity release product. It generally takes about a week to make your decision.
A professional surveyor will assess the value of your property. This is essential because the amount of equity you can release is based on the value of your home. The valuation process typically takes 1-2 weeks, but delays can occur due to scheduling or property access issues.
Once you’ve decided to proceed, you’ll need to meet with a solicitor to go through the legal aspects of the equity release. This includes reviewing the terms and signing the necessary contracts. This stage typically takes 2-3 weeks, depending on how quickly you respond to requests for documents and the complexity of your legal situation.
Once all the legal work is complete, the final step is the release of funds. This typically happens within a week after the paperwork has been signed.
While the average timeline for equity release is around six to eight weeks, several factors may delay the process. These include:
Property valuation delays: The speed at which surveyors can access your property can influence the timeline. Additionally, properties in less accessible areas may take longer to value.
Legal and financial documentation: The quicker you can provide necessary documents (e.g., proof of income, identification), the faster the process will proceed. Any missing or incorrect information may cause delays.
Specific complexities with your property: If there are any unforeseen complications with your home, like an issue with the title of your house (such as if your property is unregistered, or there is still a deceased owner on the title deeds), if your property requires a lease extension or valuations that are lower than expected, this can all cause delays.
Lender processing times: Different equity release providers may have varying processing times. Some may offer faster service, while others may experience backlogs or delays.
Health and medical information: In some cases, lenders may request health or lifestyle information, and delays in providing this can extend the overall timeline.
Understanding these factors can help you plan more effectively and avoid unnecessary delays.
While some factors are beyond your control, there are a few things you can do to speed up the process:
Be prepared with documents: Ensure that all required documents (e.g., ID, proof of income, proof of property ownership) are ready and up-to-date before you start the process.
Respond quickly to requests: Whenever the lender or solicitor requests documents or clarification, respond as promptly as possible.
Choose a trusted equity release adviser: Working with a qualified and experienced equity release adviser who has a good relationship with lenders and surveyors can help avoid delays.
Be flexible with valuation scheduling: If you can be flexible with scheduling the property valuation, it may help expedite the process.
These actionable steps not only provide value but also position you as an expert in making the process more efficient.
On average, the equity release process takes between six and eight weeks, though this can vary depending on your specific circumstances. By understanding the key stages and taking steps to minimize delays, you can ensure a smoother and quicker process. Always work with a qualified equity release adviser and solicitor to ensure everything goes as smoothly as possible.
If you're ready to start the process or have any questions, contact us today for expert advice and assistance with equity release.
Get in touch with one of the team
If you would like to speak to your conveyancer, please log in to your eWay account where you can find their contact details.
Log in to eWayMonday - Friday
9am - 5pm
If you would like to discuss a quotation you have received please call our Move Specialists on
0333 234 4425Monday - Friday
9am - 5pm
If you would like to email us, please send it to the following email address:
quotations@myhomemoveconveyancing.co.ukMonday - Friday
9am - 5pm
)
)
)
)
)
)
)