Long-term care specialist Nursing Home Fees Agency is set to expand its relationship with charity Help the Aged which will see it move into equity release for the first time.
Until now, NHFA only off-ered advice on LTC but it is understood to be reinventing itself as an across-the-board retirement planning company, moving into equity release in the process.
Sources close to the company say that from May, pat-rons of Help the Aged will get free equity-release advice from NHFA advisers. The firm is understood to be remunerated exclusively through procuration fees from providers, normally around 1 per cent.
NHFA, which has 42 IFAs, is understood to be offering advice on all aspects of retirement issues, including LTC, equity release, pensions, trusts and IHT. Neither company would comment although Help the Aged has confirmed a move into equity release.
Help the Aged senior press officer Andrea Lane says: “With the rise in property values and simultaneous decline in pension funds and investment income, older people are looking at equity release with increasing interest.
“However, the lack of regulation makes equity release an unlevel playing field. Help the Aged plans to provide older people with a comprehensive advice service and will be rel-easing full details shortly.”