The importance of face-to-face solicitors in the Equity Release process
Equity release is a complex financial decision that requires a comprehensive understanding of an individual’s circumstances and future aspirations. Today we explore the value of engaging in personal, face-to-face meetings with industry professionals during the equity release process.
Protecting potentially vulnerable individuals
Equity release is beneficial for many people, however as this product is only available to people aged 55 and over, a lot of potential candidates for equity release are elderly and they may lack family support. Some may be particularly vulnerable and/or have limited financial literacy.
Equity Release professionals, such as solicitors, play a crucial role in safeguarding the interests of these individuals. Meeting in person allows equity release solicitors to ensure that individuals are fully capable of making informed decisions and can identify signs of vulnerability or undue influence.
De-mystifying equity release products
As there are legal and financial aspects to be considered when choosing an equity release product, after the help of a qualified advisor to make an application for the right product, the guidance of a face-to-face solicitor is imperative to further ensure comprehension of the mortgage contract and the implications and potential risks associated before legally proceeding.
At North East Equity Release we use trusted, specialist equity release solicitors to ensure complex legal jargon is explained to our clients in a face-to-face meeting and in a way that they understand, helping them to navigate the fine print and minimising potential misunderstandings.
Using Equity Release Council members
As members of the Equity Release Council, we are committed to recommending qualified equity release solicitors who are also part of this industry-renowned trade body. We want to ensure that our clients are receiving the best, independent legal advice and are fully aware of the legal obligations and financial implications associated with an equity release plan.
Customer protection is a priority at North East Equity Release and we ensure every client receives impartial and independent legal advice and are aware of all of their options before proceeding. Get in touch with Joanne today to learn more.
