MortgagesNov 23 2011

Q: Do I need to tell the client’s children?

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Ms Rozario said: “It is a big decision and is likely to affect the amount a homeowner can pass on in their inheritance – however, it is worth remembering that many people use the equity in their homes as a form of pre-inheritance for younger family members.

“It is also important to respect your client’s wishes. There may be some cases where the customer does not want their family to know they are taking equity release as they may come under undue pressure from family members, but make sure you document the recommendation to discuss their actions with family.”

Vanessa Owen, head of equity release at LV, said if the client’s children are aware of the process this can remove any potential issues in the future.