Equity Release

Equity release is an increasingly popular way to boost your retirement income. Our award-winning residential conveyancing team are experts in equity release – in fact, we’re the only law firm in Cornwall that is a member of the Equity Release Council, which means you can access the very best equity-release advice at an office near you from people who know the region. Our team of specialist team of lawyers, working closely with our Elderly client team, will help you secure the right equity release mortgage for you.

What is equity release?

Equity release, or to give it its full name, an equity release mortgage, is a financial tool that allows homeowners aged 55 or more to access the value held in their property by way of a loan or mortgage. In simple terms, homeowners drawdown some of the equity in their home against the future sale of the property, usually after death or a move to residential care. An equity release mortgage can make cash available either as a tax-free lump sum or in the form of regular payments. These can then be used to boost your retirement income and allow you to do things that you might not otherwise be able to afford, such as carrying out home improvements, taking a dream holiday, or offering support to your children.

The sum available to you will be determined by your age and health, and the value of the property. It will also vary between different lenders and the type of plan you choose so, as with any other form of mortgage, it will be worth shopping around.

Equity release advice

Before you take out an equity release mortgage it is important that you seek advice from an independent financial advisor. This will help you decide if equity release is right for you and, if it is, which scheme best suits your needs. You will want to consider whether you are looking for a lump sum or an income, the value of the property and how much of it you want to leave as inheritance.

You will then need to appoint a qualified conveyancing lawyer to act on your behalf. Securing an equity release mortgage is a more complex process than obtaining a standard mortgage. One important requirement is that you must have a face-to-face consultation with a qualified lawyer, who will ensure you understand the product, the legal obligations and the contract you are entering into. This is a legal requirement and it’s there for your protection, to ensure that you do not enter into a legally binding arrangement without full understanding of its consequences or through any undue pressure from another party.

Advising on equity release is a highly specialist area. As one of Cornwall’s members of the Equity Release Council, Coodes has a specialist team of lawyers with the expertise to advise on, and help you secure your equity release mortgage.


Sarah Cowley

Head of Residential Property

Kathryn Shaw


Laura Noble


Sophie Jones


Heidi Start


Mary Wright

Chartered Legal Executive

News & Events

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Key contact

Sarah Cowley

Head of Residential Property

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We have a very clear pricing structure and ensure that you have a very clear idea of what your move will cost from the outset.

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