The Council has issued a media statement in relation to a seven-day consultation that is considering alternatives to face-to-face legal advice, in light of the Covid-19 pandemic.

David Burrowes, Chairman, said:

“Independent face-to-face legal advice is vital to the consumer safeguards underpinning the equity release market. However, we recognise these are unprecedented times where acting in the best interests of consumers’ health and personal wellbeing is paramount.

“We are therefore consulting with members to consider whether alternative steps to normal legal practice might, for a limited time period, serve to maintain consumer protections in a climate where personal contact is temporarily restricted.

“We have invited views from all members, in particular legal practitioners, and will conclude our consultation on Wednesday 25 March. We will publish the outcome in due course.”

Members can see the full details of the consultation by clicking here.