A legal perspective on equity release

Failing pension provisions, unemployment and rising personal debts are just some of the reasons why an increasing number of people are turning to equity release to fund their retirement. More than 18,000 cases were dealt with in 2011 and it is anticipated this figure will rise as more people acknowledge it as a means of combating the rising cost of living. About 85% of plans sold are via mortgage advisers and although equity release is usually taken out by people aged 55 and over, a growing number of people are looking into it as they plan for their retirement. As a highly speciali...