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Goldsmith Williams said that the recent Government White Paper on social care has highlighted the growing importance of equity release as a way of funding care for the elderly. As a consequence, financial advisers need to ensure clients are provided with expert legal advice before signing on the dotted line, it said.

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.”

 
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.

Richard Espley, manager of GW Lifetime, added: “Equity release is a classic example of a financial product where professional advice is absolutely essential. That’s precisely what GW Lifetime delivers and we anticipate growing demand for this service in the months and years ahead.”