Knights, a key player in UK legal services, has joined the Equity Release Council, marking a significant addition.
- With its 1,100 professionals across 26 locations, Knights is the largest regional legal services business in the UK.
- The Council now boasts 769 member firms and 1,831 registered individuals, enhancing its expansive network.
- Equity Release Council illustrates market growth, with Q3 2024 showing two consecutive quarters of improvement since 2022.
- The move by Knights aligns with the Council’s standards, ensuring quality legal advice in equity release.
Knights, a leading name in the UK’s legal landscape, has officially become a member of the Equity Release Council. With a workforce of over 1,100 professionals and a presence in 26 locations, Knights stands as the largest regional legal services business in the United Kingdom. This strategic association with the Council represents a critical step for both parties.
The addition of Knights brings the Equity Release Council’s membership to 769 firms and 1,831 registered individuals. This diverse network comprises every active UK lifetime mortgage product provider, financial advisers, solicitors, and other industry professionals who play integral roles throughout the equity release process.
Recent data from the Council highlights a positive trend in the market. The third quarter of 2024 marked the first instance since the Autumn 2022 mini-Budget of two consecutive quarters of growth, with 5,370 new plans agreed and total lending reaching £615 million. This development offers a promising outlook for the future, fostering optimism for stability and growth in 2025.
Jim Boyd, the CEO of the Equity Release Council, expressed enthusiasm over Knights’ membership, highlighting their deep expertise in legal services. He emphasised the pivotal role of independent legal advice, a cornerstone of Council standards for over three decades, in ensuring customer satisfaction and low complaint levels. Boyd is hopeful that this partnership will bolster industry growth and positive outcomes for customers.
Sally Peake, a partner at Knights, pointed out the significant personal and social implications of relocating from a long-term home. According to Peake, equity release provides an opportunity for individuals to stay in their homes while unlocking funds. She stressed the importance of expert legal counsel to help clients make informed decisions based on their personal circumstances.
Both Boyd and Peake underscore the essential nature of this collaboration in keeping up with industry developments and delivering exceptional support to later-life clients. By joining the Equity Release Council, Knights aims to contribute positively to the industry and uphold the high standards set by the Council.
The inclusion of Knights into the Equity Release Council’s roster signifies a shared commitment to elevate standards and support clients through expert legal guidance.
