How Long Does equity Release Take?

Although it does depend on the complexity of the application generally, we advise an equity release application takes around 8 weeks to completion and receive the funds.

When you consider the prospect of tapping into the value of your home through equity release, it’s only natural to wonder how long the process might take. While individual cases can vary, the typical equity release journey generally spans around 6-8 weeks from start to finish. This timeline ensures that every important detail is attended to, from seeking advice to the moment you have access to the released funds.


The key stages that make up this 8-week timeframe:

  1. Advice & Submitting Application: The first step is seeking advice from a professional to understand if equity release is the right option for you. After gathering all necessary details and ensuring that this avenue aligns with your needs, an application is submitted to the provider.
  2. Property Valuation: Next, a valuation of your property is conducted. This step ensures the provider understands the value of your home, which in turn determines how much equity can be released.
  3. Formal Mortgage Offer: Based on the valuation and your individual circumstances, the equity release provider will then present a formal mortgage offer, laying out the terms and conditions of the proposed equity release.
  4. Equity Release Legal Advice: Before proceeding further, you’ll need to receive legal advice about the offer. This is crucial to ensure you fully understand the implications, responsibilities, and benefits of the agreement.
  5. Requisitions: At this stage, any additional questions or clarifications needed either by you or by the provider will be addressed. It’s an opportunity to iron out any discrepancies and ensure both parties are on the same page.
  6. Completion: With all the prior steps duly addressed, the process culminates in the completion stage. This is when the agreed-upon funds are released, providing you with the equity from your home.


Embarking on the equity release journey requires careful thought and expert guidance. Being aware of the typical duration and the steps involved can help set the right expectations, making the process smoother and more transparent.

At Premier Equity Release we always aim to be upfront and frank with timeframes and advice – this helps keep your expectations realistic and gives you a crystal clear view of the process and what to expect. For our full guide on our process see our guide to how we work.

Request our Equity Release brochure

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How much equity could I access?

How much equity could I access?


Advice & Submitting An Application

Taking the first step in the equity release process often starts with seeking professional advice and submitting the requisite application.

Here’s a more in-depth breakdown of this initial phase so you know what to expect:

The Application Form

Every equity release lender has a standard application form that prospective clients need to fill out. This form captures vital details that the lender requires to assess whether you qualify for an equity release and to what extent. While most lenders expect this form to be signed by you, the client, there are a few who only necessitate your signature later when accepting the formal mortgage offer in conjunction with your solicitor.


The Advisor’s Role and Declaration

Integral to the application is a specific declaration that the equity release advisor is mandated to sign. By affixing their signature, the advisor is attesting to a couple of crucial aspects:

  • Professional Competence: The advisor confirms they’ve successfully cleared the appropriate examinations, ensuring they possess the required knowledge to guide you through the equity release process.
  • Providing Advice: The signature also stands as proof that the advisor has offered you comprehensive advice about equity release, ensuring you understand its implications and benefits.

Identity Verification

The equity release advisor must confirm your identity, this is standard practice in many financial transactions to prevent fraud and ensure the security of both parties. As part of this verification process, we’ll request the following documents:

  • Primary Identification: You’ll need to provide an original form of identification. This can be either your Passport, Photo Driving Licence, or Birth Certificate.
  • Proof of Address: To verify your current residence, you’ll be asked to produce an original document that confirms your address. This can be a Utility Bill dated within the last three months, a Bank Statement also dated within the last three months, or your current year’s Council Tax bill.

In essence, the advice and application submission phase is structured to ensure that the equity release process begins on a solid footing, with both parties possessing all necessary information. Streamlining this phase sets the stage for a smooth progression through the subsequent stages of the equity release journey.

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Request Our Equity Release Brochure

How much equity could I access?

How much equity could I access?


Who do we work with?

There are a few key providers in the Equity Release market that also work within the Equity Release Council’s guidelines. As trusted providers, we’re happy to work with all of them:

Submitting Your Application

After filling out & completing the application form, it’s ready to be forwarded to the lender. Each lender has their preferred method of receiving applications. While some lenders expect the forms to be sent via post, others accept them through email. Some even provide specialised online portals for advisors to directly upload applications.

No matter the submission method, the lender will officially confirm the receipt of your application. Following this acknowledgement, they will move onto the stage and commission a surveyor to assess the value of your property.


Desktop Property Valuation vs. Physical Property Valuation

In many instances, surveyors might conduct what’s known as a “desktop valuation”. This means they’ll assess the property’s worth without visiting it in person. For this method, you might be asked to provide digital photographs of your home, which aids the surveyor in making an informed evaluation. This was especially popular during the covid19 period, and many lenders have adopted this method full time.

However, there are times when a more hands-on approach is necessary. If a physical valuation is deemed essential, the surveyor will directly reach out to you to schedule a suitable time to visit and inspect your property.


The Physical Valuation Process

During a physical assessment, the surveyor will methodically go through each room in your house. Their primary goal is twofold:

    • Determining Market Value: The central purpose of this visit is to ascertain the current market value of your property. This valuation becomes the foundation upon which the lender’s formal mortgage offer is built.
    • Assessing Property Specifications: Beyond just the market value, the surveyor will also ensure that the property aligns with the lender’s underwriting criteria. This can include specific details like calculating the flat-roof percentage and verifying that such features adhere to the lender’s stipulations.


Duration and Reporting

The actual valuation process, when conducted physically, is relatively swift, typically taking under 30 minutes. However, post-valuation, the surveyor must compile their findings into an official report, which is then forwarded to the lender.

It’s worth noting that lenders generally expect these valuation reports to be submitted promptly. Often, surveyors are given a 48-hour window to return their detailed report after the physical inspection of your property.

In summation, the property valuation phase is a structured procedure that assures lenders of your property’s worth and its alignment with their criteria. Whether executed remotely or in person, it’s an essential step in the equity release journey.

Request Our Equity Release Brochure

Request Our Equity Release Brochure

How much equity could I access?

How much equity could I access?


Formal Mortgage Offer


Once the property valuation is successfully conducted and the report submitted, the next significant milestone in the equity release process is the receipt of the formal mortgage offer.

This phase demystifies the conditions under which the lender is willing to release equity from your property.

Here’s a closer examination of this pivotal step:

What Constitutes the Formal Mortgage Offer?

The formal mortgage offer is a comprehensive document drafted by the lender that provides detailed information about the terms and conditions of the proposed equity release.

It includes:

  1. Amount of Equity: The offer states the exact amount the lender is prepared to release based on the property’s valuation.
  2. Interest Rates: It will detail the interest rates applicable and any other associated costs.
  3. Terms and Conditions: This includes any stipulations, requirements, or clauses the lender wants the client to be aware of and adhere to.
  4. Repayment Structure: If there are any provisions for partial or full repayments, these will be highlighted.


Timeframe for Receiving the Offer

After the valuation report is submitted by the surveyor, lenders typically work with efficiency to draft the formal mortgage offer. In most cases, you can expect to receive this offer within approximately 48 hours.

This quick turnaround ensures the process stays on track and allows for any potential queries or concerns to be addressed promptly.

Review and Acceptance

It’s crucial for clients to thoroughly review the formal mortgage offer. It’s not just a matter of understanding the financial implications but also any terms or conditions that might have long-term consequences.

Consulting with an equity release advisor or solicitor at this juncture can be beneficial to ensure everything is clear and you fully understand.

The Road Ahead

Once the formal mortgage offer is accepted, the process moves forward to the next step of obtaining equity release legal advice and addressing any requisitions. However, the formal mortgage offer stands as a definitive agreement, cementing the terms under which the equity release will proceed.

In essence, the formal mortgage offer, though quickly delivered post-valuation, is a cornerstone in the equity release journey, setting clear expectations and terms for both the client and the lender.

Legal Advice

Embarking on the journey of equity release isn’t just about understanding the financial ramifications; it’s equally imperative to be aware of the legal nuances that accompany the process.

The Equity Release Legal Advice phase serves as a safeguard, ensuring that all applicants fully grasp the implications and commitments involved. Let’s delve deeper into this critical step:

Why is Legal Advice Necessary?

Equity release, by nature, is a significant financial decision that involves leveraging a property, often the most valuable asset one owns. To ensure that individuals aren’t entering into such agreements lightly or without full comprehension, the industry mandates that each applicant receives independent legal advice. This not only protects the client from potential misunderstandings but also offers the lender assurance that the client is fully informed.


The Process of Receiving Legal Advice

  1. Choosing a Solicitor: It’s essential for the applicant to seek advice from a solicitor who is not affiliated with the lender. This independence ensures that the advice received is unbiased and in the best interest of the client.
  2. Understanding the Mortgage Offer: The solicitor will meticulously review the formal mortgage offer with the client, breaking down each clause and term. They’ll highlight potential concerns, explain implications, and answer any queries the applicant might have.
  3. Witnessing the Mortgage Deed: Another vital aspect of the legal advice phase is the signing of the mortgage deed. This document is a binding agreement between the client and the lender. For the deed to be legally valid, the applicant’s signature must be witnessed. This witness, often the solicitor, confirms the client’s understanding and willingness to enter the agreement.

Duration of the Legal Advice Phase

The timeframe for this phase can vary based on the solicitor’s availability, the complexity of the mortgage offer, and the readiness of the client. However, once the formal mortgage offer is in hand, and a solicitor is engaged, it typically takes a week or two to navigate the legal advice process, including the review, discussions, and final signing of the mortgage deed.


Receiving independent legal advice is not just a procedural step but a fundamental right of every applicant. It ensures that the equity release journey is embarked upon with eyes wide open, understanding both the benefits and the responsibilities. This phase underscores the commitment of the equity release industry to operate transparently, ensuring every participant is well-informed and protected – in line with the Equity Release Council’s & FCA’s guidelines.

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Request Our Equity Release Brochure

How much equity could I access?

How much equity could I access?


Requisitions: Addressing Queries and Concerns

As the equity release process progresses, there’s a pivotal step known as ‘requisitions.’ This phase is essentially a dialogue between your solicitor representing you and the lender, aiming to clarify any doubts, address concerns, and ensure all details align perfectly before the completion of the deal.

Here’s an in-depth look at what the requisitions stage involves:

What are Requisitions?

Requisitions are formal queries or requests for additional information made by either your solicitor or the lender’s legal representative. These can range from clarifications on the terms of the mortgage offer, to discrepancies in property details, or any other concerns that may arise.


Why are Requisitions Necessary?

  1. Ensuring Accuracy: Before finalising the equity release, it’s crucial to ensure all details are accurate and agreed upon by both parties. Requisitions help rectify any potential errors or inconsistencies.
  2. Clarifying Terms: The mortgage offer might contain clauses or terms that require further explanation or adjustment. Requisitions allow for this dialogue.
  3. Addressing Last-minute Concerns: Any hesitations, doubts, or concerns, either from the lender or the client’s side, can be raised and resolved during this phase.


The Process of Addressing Requisitions

  1. Raising Queries: Either party’s legal representative can raise formal questions about any aspect of the equity release process.
  2. Providing Responses: The receiving party is expected to answer the queries, provide additional documentation if necessary, or make any required amendments.
  3. Confirmation: Once all requisitions are satisfactorily addressed, both parties give their final confirmation, moving the process closer to completion.

Duration of the Requisitions Phase

The timeframe for the requisitions phase can be quite variable. Depending on the nature and number of queries raised, and the promptness of responses, this step might take anywhere from a few days to a couple of weeks.
We generally advise around 1-2 weeks as generally both parties usually aim for a swift resolution to keep the equity release process on track.


Completion: Finalising the Equity Release

The completion phase signifies the culmination of the equity release process. At this juncture, all prior steps—from application to addressing requisitions—converge to formalise the release of equity from the property.

Key Aspects of Completion

  1. Final Documents: Both parties — lender and client — finalise and sign off on all necessary documents. This ensures that all terms agreed upon are legally binding and have been thoroughly reviewed and understood.
  2. Release of Funds: Upon completion, the lender disburses the equity funds, either transferring them directly to your bank account or through their legal representative, depending on the agreement. If you pay for a CHAPS transfer, you could receive the funds the same day while generally, a BACs transfer is around 3 days.
  3. Official Record: The completion of equity release often necessitates an update to official property records, reflecting the new financial arrangement in place.

Duration of the Completion Phase

Typically, the completion phase is swift, especially if all prior steps have been meticulously executed. Once all documents are in order and requisitions addressed, completion can often be achieved within a week. However, the exact timeframe might vary based on the lender’s processes and any last-minute adjustments.

In essence, completion is the final, rewarding step in the equity release journey, allowing you to access the funds and utilise them you’ve planned.


Request Our Equity Release Brochure

Request Our Equity Release Brochure

How much equity could I access?

How much equity could I access?


Factors That Can Delay the Equity Release Application Process

The journey to equity release can sometimes bring up some unexpected roadblocks. Despite the best intentions and meticulous planning, certain issues can introduce delays to the application process.

Here’s some of the common stumbling blocks:

    • Property Sales and Purchases: If a property is in the midst of being sold or purchased, this can introduce complexities that might extend the application timeline.
    • Unregistered Properties: A property that isn’t officially registered can require additional time for verification and documentation, causing delays.
    • Deceased Owners on Title Deeds: Sorting out ownership when a listed owner has passed away can be time-consuming, especially if the relevant legal paperwork isn’t immediately available.
    • Lease Extensions: In cases where property leases are too short for the requirements of an equity release, extensions have to be negotiated and approved, extending the process.
    • Undisclosed Information: If crucial details are omitted during the initial advice meeting, uncovering and addressing them later can stall the process.
    • Property Down Valuations: If the estimated value of a property is found to be unrealistic during valuation, adjustments and potential renegotiations might be necessary.
    • Separation Agreements: If a property is owned jointly and there’s a separation or divorce in the mix, the terms of any agreements can introduce additional considerations.
    • Properties Held in Trust: When properties are part of a trust, extracting them or making financial decisions can be more complex and time-intensive.
    • Applying to the Courts of Protection: In cases where an applicant might lack the mental capacity to make decisions, legal permissions from the courts are required, adding to the timeframe.
    • CCJ’s, Cautions, and Restrictions: Any legal markers, such as County Court Judgments (CCJ’s), or restrictions on the title deeds, can slow the process, requiring additional checks and considerations.

In summary, while many equity release applications proceed smoothly, understanding potential hurdles can better equip applicants and advisors to navigate challenges, ensuring a smoother path to completion.


Navigating the intricate pathways of equity release requires not only a thorough understanding of the process but also a trusted partner by your side. While the journey might present unexpected challenges, with the right guidance, it will be a breeze.

At Premier Equity Release, we pride ourselves on offering expert advice and support tailored to your unique needs, ensuring a seamless and informed experience. If you’re considering unlocking the value in your home or simply want to understand more about equity release reach out to us today and we’ll guide you through every step of the way.

Get in touch with us now and embark on your equity release journey with confidence.

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Request Our Equity Release Brochure

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How much equity could I access?


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