However, for many people in the UK, their home is their main source of wealth and figures suggest more than 2m people in the UK are considering equity release as a means of boosting their income or capital.
Can advisers and their clients look past the historic problems and view today’s equity release products as a useful, appropriate tool in the financial planning toolkit?
This guide explores the potential effects of Brexit on equity release; the differences between lifetime mortgages and home reversion plans; regulatory issues that might affect equity release; and assessing suitability for various clients.
Contributors of information to this guide: John Mahon, head of equity release securitisation for Aviva; Christine Newell, mortgages technical director at Paradigm Mortgage Services; Mitch Hopkinson, head of advice at deVere UK; the Money Advice Service; the Saga Equity Release Advice Service; Dean Mirfin, technical director for Key Retirement; Stuart Wilson, managing partner of the Later Life Academy; Bank of England; LMS; Stephen Lowe, group communications director for Just Retirement; Rob McCoy, senior products manager at Sesame; Simon Chalke and Dan Baines for Age Partnership; Paul Carter, chief executive of Pure Retirement; Nigel Waterson, chairman of the Equity Release Council; the Financial Conduct Authority.
simoney.kyriakou@ft.com