As a consequence, the legal firm believes that financial advisers need to ensure clients are provided with expert legal advice before signing on the dotted line.
Eddie Goldsmith, senior partner at Goldsmith Williams, said: “The recent government white paper has put into sharp focus the issues of funding social care for a rapidly growing number of elderly people. Although the government is proposing several possible solutions nothing is yet certain, other than elderly people will have to continue funding their own care for years to come.
“With so many pensioners being equity rich and cash poor, it is inevitable that equity release will grow in popularity as a way to ensure a comfortable old age. However, financial advisers must ensure clients are given expert legal advice from lawyers who really understand the issues relating to equity release, which is why Goldsmith Williams’ specialist equity release service, GW Lifetime, has proven to be so popular.”
GW Lifetime provides brokers and borrowers with access to a team of equity release conveyancing specialists who guarantee to provide a 20-day turnaround on all equity release cases. What’s more, brokers who are not authorised to transact equity release business can refer clients to a panel of equity release specialist via Goldsmith Williams online portal, GW Live. The service not only enables brokers to select and instruct an equity release specialist online, but also enables brokers to be kept regularly updated throughout the application process and be paid commission when cases complete.
