The Equity Release Process

Discover the best way to release equity from your home. 

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Equity Release Council

The Equity Release Process

Find a good, reliable Equity Release Broker

Read reviews from Brokers previous clients from Google, or sites like VouchedFor or where you can find many independently verified reviews.

Make contact with your chosen broker

Make contact via email or telephone to ask initial questions and determine if you feel this is the right broker for you. Do you consider them to be efficient, friendly and client focused?

Once you have chosen which Advisor you would like to meet, they will offer you a Phone or Video appointment to speak with you to discuss your circumstances about your circumstances in further detail.

The process with Ocean

Having considered all the available options, if Equity Release is a recommendation and you decide that you would like to complete an application then the process with Ocean is:

Establish if you need Equity Release

The best place to start is ’do we actually need to take Equity from our property, or are there alternatives that we have not yet considered?’ We will discuss at least five alternative ways to raise funds with you.

Discuss your circumstances

To give you the best possible advice, we ask you a series of questions to find out about you, your current circumstances and your financial aims from releasing property wealth. This then means that our advice is tailored to your specific needs.

Complete an application

Once our Whole of Market research has been completed and we have found a lender with a product that best suits your needs, we will complete an application on your behalf.

Find a solicitor

We work with a panel of solicitors across the country who we have selected based upon their high service levels and fair costs.

Instruct a survey

Upon completion of the application and provision of the necessary paperwork, the lender will then instruct a survey of your home. This is to ascertain the condition and value of your property.

Mortgage offer and completion

Once the lender has agreed your loan, a copy of your mortgage offer is issued. Your solicitor then liaises with you to complete the legal paperwork and arrange completion of the mortgage and the release of funds.