More government control of equity release / give people easier access to power of attorney

Setting up power of attorney can be really important, for example if you go into hospital and then lack capacity, you can’t get out until public guardianship is sorted which takes ages and costs money, but those on low income can’t afford to set it up. It needs to be made affordable/free.

Equity release (releasing money from a property) is difficult and people are being taken advantage of.  Stronger government control over this and the way it is sold and marketed are needed.

 

Why the contribution is important

This is important because lack of power of attorney can cause problems/bottlenecks in service - for example, where people cannot be discharged from hospital and are therefore “bed blocking”.

by FairerScotlandAdmin2 on October 26, 2015 at 04:26PM

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