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Older homeowners are releasing an average of more than £100,000 from their properties, in what is being termed a middle-class stampede towards equity release. Two separate studies found that homeowners were able to access triple-figure cash pots when taking out equity release deals- also known as lifetime mortgages. This is when older homeowners take out a new mortgage on their home, allowing them to access some of the money tied up in it to spend in their later years. Older homeowners are getting an average of more than £100,000 when they take out equity release mortgages - but there are plenty of risks involved ....
Homeowners release £1bn of equity in 'middle-class stampede' dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
The Openwork Partnership has partnered with Co-op Legal Services to offer legal services. The arrangement will enable The Openwork Partnership to offer a range of legal support services including wills, probate, family law and employment law to advisers and their clients. Demand for legal services has grown since the start of the COVID-19 pandemic as more clients realise the need for estate planning as well as help with employment and family issues, according to the firm. Research from Co-op Legal Services shows that 79% of advisers believe better estate planning services would help them support their clients better and that 50% of couples have not made a will. ....
Demand for protection advice on the up: Zurich By Gary Adams 15 The Covid pandemic has driven demand for protection advice, says Zurich. Of 100 advisers asked by the insurer, 29 per cent reported an increase in general demand, with 39 per cent saying that clients wanted to know more about income protection and 36 per cent for critical illness cover. Meanwhile, 67 per cent said there had been an increase in demand for mortgage advice. Alongside this, 38 per cent said there had been a dip in people seeking retirement planning advice alongside 34 per cent reporting fewer people looking for wealth management advice. The survey throws up interesting results regarding adviser and client relationships, too – 32 per cent said that the pandemic had strengthened their relationships with their clients and 52 per cent disagreed. ....