Life time mortgage i believe mis-sold to my father in law

MWT

kingstreet said:

MWT said:

kingstreet said:

TBH I'm not sure about ten years ago, but wasn't the ERC around then?

From the current AIR FF;-

Involvement

Has the customer been advised to speak to their family and any other material beneficiaries of

their Will, and to consult an independent legal adviser?

Yes

Does the applicant want to involve anyone in these discussions?

No

That is more in line with the process than your first comment made it sound.

There is no pressure or expectation from the advisor that relatives will be spoken to, simply advice that it is a good idea and they are available if required, rather than 'relatives are usually included...'

It remains a difficult point to put pressure on even though it is a good idea as like all financial decisions there is a necessary amount of confidentiality around the details yet this is one area where it would be a good idea to 'tell the kids', but most really will not want to do that.  

It sounds like our process is a bit different to others, so apologies for the poor word selection. We would expect inclusion and document exclusion in the suitability report where that has been chosen. 

I would say that your approach is sensible for both self-defence and wise for the client, we opted to tell our children anyway but did not need help doing that.

The more that do tell their family the less we should see threads like this one appearing so that can only be a good thing in the end.