Equity Release set up costs
Make sure you know the costs you’re likely to incur when releasing equity.
Members of the
Equity Release Council
Equity Release Council
What are the costs of setting up an Equity Release Mortgage?
There are four main costs for completing an Equity Release mortgage:
Lender fees
The majority of deals we source for clients do not incur a fee.
Valuation fees
In most instances, when you complete an application with Ocean, the lenders pay the valuation fee on your behalf.
Solicitor Fees
These are generally around £850 including VAT.
Broker Fees
Ocean charge 2% of the amount you borrow, subject to a minimum of £1,495. The fees associated with Equity Release can be added to any loan you take out. Please remember that any fees added to the loan will incur interest throughout the loan period.