Help the Aged has set up an equity-release advice service which will see it refer enquiries from pensioners to specialist IFA Nursing Home Fees Agency.
As exclusively revealed by Money Marketing in April, the move will extend Help the Aged's existing relationship with NHFA, which until now has only involved long term care insurance.
It will see NHFA expanding its services as it aims to become an across-the-board retirement planning company offering advice on issues including LTC, pensions, trusts, inheritance tax and equity release.
Help the Aged Equity Release will offer impartial advice to people looking for ways to raise cash from their home. It will operate as a broker service, offering advice on mortgage and reversion plans as well as how the extra money will affect benefit entitlements and tax liability.
The two organisations will be remunerated through commission on any transactions completed but they will not say how the payment will be split.
NHFA director Peter Fisher says: “Help the Aged Equity Release is completely independent. If equity release is not a suitable option, we will advise as such.”