Law firms have joined forces to offer specialist and impartial equity release legal advice under the name Equishield.
Martin Kaye, BPL, Cavendish Legal, Glanvilles, Gordon Brown and Shakespeare Martineau will cover much of England and Wales.
Simon Wagner, partner at Martin Kaye Solicitors, said: “By working together we are able to offer a nationwide service whilst retaining a personal touch.
“For a fixed fee we commit to spend as much time with the client as he or she needs to explain the product in detail.
“I am delighted that Martin Kaye is part of this collaboration of firms who all have the same ethos of offering quality independent legal advice.”
David Bridge, managing director of BPL, said: “The UK Population is aging. For the first time in history the over 65’s outnumber the under 16’s.
“The recent Knight Frank Retirement Housing Report tells us that older people already account for nearly 30% of housing.
“The lending market has been slow to catch up and with maximum age limits in place for most mortgages, and equity release can be an attractive option for home owners wishing to raise money from their homes.
“It is however a specialist area and clients need to receive independent legal advice as a result. Equishield believe that people deserve to be given the right advice from law firms who understand the products on the market from a legal perspective and how they interact with the needs and situation of our clients.
“This is why we believe it is so important that our service ensures that every client is seen by a specialist from one of our firms, and not passed on to an agency firm or subcontracted out.”