Government proposals highlight equity release

As a consequence, the legal firm believes that financial advisers need to ensure clients are provided with expert legal advice before signing on the dotted line.

The recent government white paper has put into sharp focus the issues of funding social care for a rapidly growing number of elderly people. Although the government is proposing several possible solutions nothing is yet certain, other than elderly people will have to continue funding their own care for years to come.

With so many pensioners being equity rich and cash poor, it is inevitable that equity release will grow in popularity as a way to ensure a comfortable old age. However, financial advisers must ensure clients are given expert legal advice from lawyers who really understand the issues relating to equity release, which is why Mortgage Solutions specialist equity release service, has proven to be so popular.”