Equity Release Expert Expands MG Service Offering
One of North Tyneside’s leading mortgage and protection advisors, MG Financial Solutions, has brought in a new expert to deliver a service that now positions them as one of only a handful in the region.
In fact, Steve Wilson is one of only 700 practicing equity release experts across the entire UK. He has joined MG Financial Solutions on the back of owner Martin Graham receiving customer demand for the service.
Steve brings 12 years of experience in protection and equity release to the team. Having been a qualified practitioner in equity release for over 10 years, Steve ensures that he keeps his qualifications up to date, with his latest qualifications being reapproved just last month meaning he is right on the ball with legislation and FCA regulations. Martin said:
“Steve and I previously worked together at another specialist advice broker, so when I was looking to expand the offering to bring in equity release to meet customer demand I knew straight away who the best person for the job would be.
“Equity release is very niche and has to be done the right way for each customer. With his experience and his qualifications, I am confident that Steve will look after our new and existing clients very well.”
As more parents help their children get on the property ladder, equity release is becoming more popular. Other reasons for following the route are emerging, with people not wanting to downsize as their endowment protected mortgage matures with funds still outstanding and older people being more active and wanting to travel in their latter years.
Steve, who is 39 and lives in Gateshead with wife Victoria, said:
“The equity release market is growing now it is properly regulated and it is being used to meet mortgage holders needs responsibly. There are choices available now that free up capital, in payment free terms until an agreed time. This is really attractive to people wanting to help children, pass on financial support, release funds to achieve their dreams or simply just to have the choice to stay in their existing home.
“I am delighted to join MG Financial Solutions. They have an excellent client base, are a respected pair of hands in the industry and a professional and vibrant team to work in!”
Equity release is available to people in the UK aged over 55, who fulfill a strict criteria. The funds released are done so by the lender these are paid back when the borrower dies or moves into care and the property is sold. The practice is now fully regulated, with only specialists in the funds allowed to advise and deliver.
MG Financial Solutions is directly authorised by the Financial Conduct Authority, which means the team can search the whole of market to give advice on the most suitable options for individual circumstances.