Goldsmith Williams said the rapid rise in business was due to 25% of its clients now turning to equity release as a means to repay existing mortgages, consolidate debt and overcome inadequate pension provisions.
In addition, Goldsmith Williams has strengthened its equity release proposition to offer a dedicated equity release conveyancing specialist.
The results back Key Retirement Solutions’ figures released last week reporting that equity release plan sales have grown 22% in the first half of 2010 and the number of total plan sales has increased 5% in the same period.
Richard Espley, manager of Goldsmith Williams’ specialist equity release division, GW Lifetime, said: “As more people turn to equity release to fund their retirement, so they are seeking specialist legal advice rather than using their local high street law firm.
“What’s more, 72% of our clients said that the provision of specialist financial advice was also an essential part of their equity release transaction.”
