It’s a bull market. The world of equity release is top of the pops at the moment, and living in a boom. It may end in tears, but the market is huge. Not just fuelled by the growing elderly market, nor by soaring property prices, but by Government policies that fuel inflation with high public sector investment and drive tax avoidance strategies. And when it comes to tax avoidance, Inheritance Tax is the most hated of all. IHT thresholds are frozen, bringing a further 30,000 estates into the charge bracket each year. Pensions will also soon be subject to this tax, and the elderly are looking for ways to reduce the tax they will leave behind on death. One option is to give cash away, perhaps a deposit for a house or more. But where to get the cash? From their own house, of course – and that brings us back to Equity Release.
As an adviser you must position yourself to benefit. Either get into the marketplace, or refer your business on to a sympathetic broker.
Our clients use BAT to check Equity Release cases via AI filechecker. The system checks the files online, and scores them, ready for checkers to sign them off. That’s cool.