flexible cash release plan
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pthurgood
Posts: 2 Newbie
My mother-in-law took out a flexible cash release plan some years ago with a well known company. She has since passed away and my wife and I have been left to deal with the enormous debt that this has now become.
When I looked at a copy of the document she signed I saw that the person she had assigned to handle her financial affairs was a private individual who was not a member of the Equity Release Council.
My mother-in-law was in her late 70s at the time of signing these docs which she then sent on to the mortgage company. What I am not sure of, is is it, or was it, the equity release company's duty to check on the validity of an unregistered individual or was this choice solely in the hands of my ex mother-in law?
When I looked at a copy of the document she signed I saw that the person she had assigned to handle her financial affairs was a private individual who was not a member of the Equity Release Council.
My mother-in-law was in her late 70s at the time of signing these docs which she then sent on to the mortgage company. What I am not sure of, is is it, or was it, the equity release company's duty to check on the validity of an unregistered individual or was this choice solely in the hands of my ex mother-in law?
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What I am not sure of, is is it, or was it, the equity release company's duty to check on the validity of an unregistered individual or was this choice solely in the hands of my ex mother-in law?
What do you mean by unregistered individual? The advising firm is not required to be registered with anybody. They are required to be regulated by the FCA with the appropriate permissions. are you saying she did not use a regulated firm?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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