Research by Alliance and Leicester has found that 45% of intermediaries would not consider selling equity release. Only 27% of mortgage brokers sell equity release and a further 28% say they might consider selling the product.
Alliance & Leicester believe that the survey showed that equity release is still an area many intermediaries do not feel confident about or do not feel it is worthwhile getting into.
Our view
Most 'mortgage brokers' are not qualified to offer advice to older people in terms of care fees planning or equity release schemes. To advise on both areas, the regulator requires advisers to have speacialist qualifications.
All advisers at have passed both Long Term Care Fees Planning and Lifetime Mortgages (equity release schemes) examinations with the Chartered Insurance Institute.
Take a look at the Care Fees Adviser.com site or Equity Release areas.
is prepared to offer advice in these areas.
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