How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask F E Smith Your Own Question
F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 15112
Experience:  I have been practising for 30 years.
18203470
Type Your Law Question Here...
F E Smith is online now

We are looking at releasing some Equity on our house (i.e.

Customer Question

we are looking at releasing some Equity on our house (i.e. £50.000) . The house is in joint ownership but my husband lives in Thailand. We have been told that my husband needs to come off the Deeds. The question is what protection could he get regarding inheritance?
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: no. I live in the UK but my husband is normally based in Thailand
JA: What steps have you taken so far?
Customer: We have had a consultation with a company providing Equity Release and we are interested but we feel we need to clear a few of these questions first
JA: Anything else you want the Lawyer to know before I connect you?
Customer: What are the potential hazards with Equity Release?
Submitted: 8 days ago.
Category: Law
Expert:  F E Smith replied 8 days ago.

Good afternoon. I will assist with your question - be aware this is an email not chat service therefore i maybe delayed in replying.

what do you want the money for?

and who is the company you are doing this with?

Customer: replied 8 days ago.
The money would be for supplementing our pensions. The company is an independent company called Perfect Retirement and the Senior Adviser's name is Mike Henry
Customer: replied 8 days ago.
he isbased in Bournemouth
Customer: replied 8 days ago.
i have contacted Mike Henry to ask him which money lenders would be dealing with us. I am waiting to hear
Expert:  F E Smith replied 8 days ago.

There is no legal reason why your husband should have to come off the deeds. However a lender can impose any conditions they like.

 

Therefore you either do what they are asking or you don’t get the money. To protect your husband, you would need a deed of trust outlining his interest in the property and that would need to be registered at the land registry is a restriction. The solicitor that deals with the new mortgage would have no problem with any of that.

 

If this is a Lifetime Mortgage the biggest players in the market are Aviva and you should certainly be looking at their product along with any others which the adviser has shown you.

 

Perfect Retirement is a trading style of Perfect Mortgage and they are registered with the Financial Conduct Authority so you should have a reasonable expectation of getting a professional service.

 

I cannot find a Michael Henry registered with them at the Financial Conduct Authority so you might want to just check that he is indeed registered.