Knights, a major player in UK legal services, has become a member of the Equity Release Council, signalling growth and interest in the later life lending market.
- With its extensive network of professionals, Knights aims to enhance the quality of independent legal advice available to equity release customers.
- The Equity Release Council’s membership now includes 769 firms, reflecting a promising trend in the market amid recent quarters of growth.
- The entry of Knights follows other newcomers like Smart Money People and Square 4, indicating diversification within the council’s membership.
- This development is seen as a positive step for the industry, promising better outcomes for consumers through expert advice and professional support.
Knights, recognised as the UK’s largest regional legal services firm, is now part of the Equity Release Council. This inclusion highlights a significant development in the equity release sector, where Knights’ team of over 1,100 professionals will contribute their expertise across 26 locations nationwide. They specialise in offering independent legal advice, which is crucial for clients navigating equity release options.
The Equity Release Council, a body encompassing every active UK lifetime mortgage product provider and related professionals, has expanded its membership to 769 firms. This expansion points to a growing trend in the later life market, underscored by the Council’s recent report of successive quarters of growth since the 2022 mini-Budget. The report showed 5,370 new plans and £615 million in lending agreed in the third quarter of 2024.
As the market evolves, new members like Knights, along with Smart Money People and Square 4, bring diverse perspectives and capabilities. Jim Boyd, CEO of the Council, expressed enthusiasm for Knights’ arrival, emphasising the value of their deep legal knowledge. He acknowledged the transformative impact of equity release for homeowners, citing its ability to enhance financial stability by supplementing pension income, enabling home adaptations, or funding at-home care.
Sally Peake, Partner at Knights, remarked on the emotional and social complexities of moving homes, noting that equity release offers a solution to remain in familiar environments while accessing necessary funds. She highlighted the importance of receiving tailored legal advice to ensure informed decision-making, adding that Knights’ council membership ensures they stay updated with industry developments to best serve their clients.
Knights’ membership in the Equity Release Council marks a pivotal advancement in the sector, enhancing the landscape of later life lending through expert legal services.
