As I'm responsible for communicating with the wider public about what we do, I'm always concerned with our brand and how things will fit in. When I say brand, I mean what we stand for as a company; the way we do business, our ethos and the service we provide.
I've always been a bit nervous about the term "Equity Release", or a Lifetime Mortgage as it is also known. It conjures up images of people taking money out of their home to pay for a cruise and a new beamer. This is the kind of short termism that we have spent the last 26 years advising our clients to avoid. There have been some misconceptions arising from historical products and mis-selling. So you can see why I'd be a bit nervous...
Equity Release has not had great PR over the years but that does not mean it's not a useful tool in a financial plan. A recent Radio 4 Moneybox programme highlighted the pitfalls but also the positive benefits of Equity Release.
If you can't access this on your computer, click here to see the transcript in PDF format.
As part of our Financial Planning service we find all sorts of solutions to help our clients achieve their objectives. Sometimes Equity Release is part of that solution and we have people on our team who have the requisite qualifications to do so.
If you have any concerns about your retirement, long term care fees or helping your family out financially please give us a call. We will listen, it might be that there is a solution to help you achieve your plans that you hadn't considered before.