Equity Release

Summary

The equity release market is one of the fastest growing sectors of the financial services industry. Unlocking money from homes to support low incomes has proven to be an attractive option especially in times of falling stock markets, low interest rates and under-performing pension schemes. Lawyers and financial advisers need to be aware of the legal framework in which such equity release schemes operate. This new guide provides: - an insight into how such schemes can be used to mitigate inheritance tax, pay for residential care, fund speculative investment, and help settle matrimonial settlements; and Equity Release: A Practitioner's Guide is essential reading for all private client and property lawyers, as well as financial advisers. CONTENTS 1. INTRODUCTION What is Equity Release? The Market environment Client Profile Analysis of Market and Client Profile 2. EQUITY RELEASE SCHEMES Overview Home Reversion Schemes Lifetime Mortgages: Home Equity Release Mortgage (HERM) Annuity Based Schemes Common Factors 3. ADVISING THE CLIENT Professional Issues Alternative Solutions Practical Issues Check-out the Provider/Adviser 4. EQUITY RELEASE: USES AND ABUSES Mitigating Inheritance Tax Funding Residential Care Supplementing Income and/or Capital Speculative Investment Living Inheritance Matrimonial Settlement Buying Property Overseas 5. SAFEGUARDS Introduction Codes of Conduct Financial Services Authority (FSA) Consumer Credit Act 1974 Annuity and Investment Based Schemes Prescribed Warnings Professional Indemnity APPENDICES 1.Useful Addresses 2.Further Reading 3.Roll-up Loan Interest Table 4.Standard SHIP Certificate 5.Precedents

Introduction
What is Equity Release?
The Market environment
Client Profile
Analysis of Market and Client Profile
Equity Release Schemes
Overview
Home Reversion Schemes
Lifetime Mortgages: Home Equity Release Mortgage (HERM)
Annuity Based Schemes
Common Factors
Advising the Client
Professional Issues
Alternative Solutions
Practical Issues
Check-out the Provider/Adviser
Equity Release: Uses and Abuses
Mitigating Inheritance Tax
Funding Residential Care
Supplementing Income and/or Capital
Speculative Investment
Living Inheritance
Matrimonial Settlement
Buying Property Overseas
Safeguards
Introduction
Codes of Conduct
Financial Services Authority (FSA)
Consumer Credit Act 1974
Annuity and Investment Based Schemes
Prescribed Warnings
Professional Indemnity
Appendices
Useful Addresses
Further Reading
Roll-up Loan Interest Table
Standard SHIP Certificate
Precedents
Table of Contents provided by Publisher. All Rights Reserved.

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