Chair of Equity Release Council makes key appearance at collaborative Roundtable
Today’s Conveyancer and Today’s Wills and Probate were excited to be hosting their first collaborative Roundtable, with a focus on a key opportunity for legal professionals across both sectors.
Held in the 3PB Barristers Chambers of Birmingham’s prestigious Colmore Building, the event gave attendees the unique chance to discuss important issues and key challenges, as well as hear from expert speakers to help refresh and develop industry knowledge.
The key focus of the day was on the equity release market, having shown significant growth over recent years, as well a potential opportunity for law firms which has not yet been fully tapped into.
Equity release now attracts double the amount of customers it did in 2013, and with almost three-quarters of equity held by those over 50, the possible benefits for legal professionals to extend their offering to equity release advice have never been more prominent.
Beyond lifetime lending seeing rapid growth over the past year, many equity release products have specialist aspects which require expert advice – both conveyancing and Wills and Probate related alike. As such, with the range of products on offer to consumers on an upward trajectory, more and more legal professionals are considering providing advice to their clients.
Setting out to help our attendees gain a clearer understanding of what this may involve, we were thrilled to welcome Chair of the Equity Release Council, David Burrowes, who expressed his delight at the opportunity to engage and interact with professionals on a face-to-face basis.
Amongst the range of key issues discussed were personal indemnity insurance, independent legal advice, vulnerability and capacity, all of which highlighted the barriers faced by professionals as well as clients.
Alongside the opportunity to discuss key issues with peers, the day provided attendees with the chance to gain a real insight into the equity release market and how to establish a greater presence in this evolving area of law.
Next week, a full write-up will be published on both Today’s Conveyancer and Today’s Wills and Probate.
To find out how you can attend our Roundtables in future, please email: