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Equity Release Council announces changes to legal process

On the 27th March, The Council agreed to enable remote provision of legal advice for equity release customers, so that advisers and providers can deliver services in line with Equity Release Council standards, but also in a way that reflects the guidance of Government on social distancing and protects the health of customers and members. 

The Council is setting out a remote process using telephone or video facilities and additional steps to ensure customers are given the necessary legal advice. The physical witnessing of the mortgage deed being signed remains a requirement under UK law and needs to be carried out by an independent witness arranged by the client, under social distancing rules. The solicitor will, alongside remote legal advice, conduct additional due diligence to ensure the witness is valid.

You can read the statement in full here.

This website is intended for intermediaries only and has not been approved for customer use. more2life Limited. Registered in England No 5390268. Registered Office: Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH. more2life is authorised and regulated by the Financial Conduct Authority.