Equity Release – is it a solution for everyone?

It is widely believed that as the lack of pension provision and other economic factors begin to bite over coming years the market for pensioners mortgage and Equity Release advice will grow significantly. A recent study estimated that some 800,000 of today’s over-65s would be interested in using equity release to raise money in retirement. Yet only 17,000 plans were completed last year.

Equity Release can potentially be a good and importantly safe solution to a number of situations. All products are now fully regulated and there are strict guidelines regarding the sales process and product features which should reassure clients and their beneficiaries. As well as providing much needed lump sums Equity Release is versatile and can be used for many other purposes, such as providing deposits for first time buyers and funding care in the home. Increasingly it is being used as a means of one partner buying out another in later-life divorces. Many Equity Release enquiries are initiated by younger family members who simply want Mum and Dad to better enjoy their retirement.

Many clients know little or nothing about this product area. And some 44% of the public questioned by the study did not know where they could go to get advice on Equity Release products.

But help is at hand at Capital Fortune! We have a number of specialist advisers within our network able to provide Equity Release advice and recommendations. These specialists have obtained the necessary additional mortgage qualifications and passed a rigorous validation programme allowing them to offer the schemes. They are keen to help you.

So – if you are a homeowner aged over 55 who is struggling financially or who may need to fund a particular project, please remember the availability of Equity Release.