In an era defined by low interest rates and low returns for savers from traditional sources, it is only logical that many individuals in their late middle age and old age are turning to Equity Release.
At McVey and Murricane, with our lengthy experience, we are able to recall the original introduction of Equity Release which proved highly controversial and very poor experience for all involved.
The industry dealt with that experience by completely reinventing the process to ensure that new customers were treated fairly and properly. As is always the case, when there is a response to a poor experience, arguably the net result is that the pendulum may have swung too much the other way.
Why is this? The process involved in Equity Release is highly rigid and the participants within Equity Release are highly risk averse. This means that apparently minor deficiencies in the paperwork for a property are attributed a value by solicitors acting for the Equity Release companies which is, in all truth, unnecessary.
However, this is the system which exists and the experience of McVey and Murricane ensures that your client obtaining an Equity Release financial package has the best possible experience. This does not mean that these irritants that litter the Equity Release process do not occur but, because they are understood, McVey and Murricane will reduce the impact upon your client.
As always, the key is to contact McVey and Murricane as early as possible in the process so that your client is aware of the process and that preliminary checks can be carried out to ensure the smoothest possible journey through the Equity Release.