Claire Barker, Chairman of the Equity Release Solicitors Alliance (ERSA) comments on Ready for Ageing? – Select Committee on Public Service and Demographic Change
“The call for more government engagement in today’s report is an important one. For its part, the equity release industry is actively seeking to engage with the government to raise awareness and ensure releasing equity from ones’ home becomes a standardised part of the decision making process around retirement planning.
“However, it is equally important that the government seeks to engage with the equity release industry and the network of specialist solicitors, advisers and providers that can draw on countless years of expertise to best advise homeowners. By building on the specialist knowledge of those in the industry, the government can play a positive role both to educate older people around the options available to them, but also to reduce some of the burden on itself of funding retirement for the ever increasing number of people without adequate means to support themselves through their later years.”