Unlocking Wealth in Later Life


Julia Robson, Solicitor | 14th November 2022

In an ever more challenging financial climate, we have seen an increase in clients over 55 years of age seeking to utilise the equity in their properties to raise finance to meet a variety of expenditures, including later-life care.

We are pleased to announce that we have recently become members of the Equity Release Council in recent months. This leading organisation is dedicated to ensuring consistently high standards of conduct from members of the Council who provide advice and assistance on equity release plans. When considering instructing a professional in this area it is essential to look for the Equity Release Council Logo to ensure an individual or organization adheres to the Council’s standards and code of practice.

As a firm, we have been providing client-focused, informative advice since 2006 in the area of equity release. It is essential that our clients feel fully informed and supported throughout the process and we are able to offer face-to-face appointments. By liaising with the lenders’ solicitors and ensuring that our clients are working closely with other advisers, such as financial and tax advisers, we can ensure that we achieve the best possible outcome for our clients.

For most people, their property will be their most valuable asset and it is essential to ensure that a client chooses the right equity release plan to suit their individual needs at that particular stage of their life.

There are two main types of equity release, Lifetime Mortgages and Home Reversion Plans.

A Lifetime Mortgage allows a client to retain full ownership of their home and to pay interest on the loan or to allow the interest to accumulate until the loan is repaid. The loan and any unpaid interest is then repaid when the client dies (if a couple when the last person living in the home dies) or moves to long-term care.

With a Home Reversion Plan, the client sells all or part of their property, with the right to remain in the property, in exchange for a lump sum or a monthly payment. The client retains a specific percentage of their property and can remain in the property until death or a move to long-term care.

Which plan is appropriate will depend on the client’s individual circumstances and clients are advised to take specialist financial and tax advice to determine which plan is most suitable for them.

For further information and advice please call Julia Robson on 01752 388893 or email: