Equity release a growing market for solicitors – Pru

Research from Prudential conducted among UK private client solicitors shows a growing need for advisory work in equity release.

Twenty nine per cent of solicitors believe demand for legal guidance in the area of equity release will increase in the next five years and over the last two years, one in four (26 per cent) private client solicitors have provided views and advice to their clients about equity release.

Prudential national mortgage club manager John Malone says: “Regulation is certainly in the best interest of customers and beneficial to the growth of the market. Ensuring that customers get the best possible advice in relation to the sale of equity release products is essential which is why obtaining independent legal advice is something we insist on.”