There is a widely-held misconception that a husband, wife or child over the age of 18 can make decisions regarding finances or welfare if their parent or spouse is unable, but that’s not the case unless you’ve appointed them legally. If a Power of Attorney hasn’t been put in place, it can take many months to be given “deputyship”, which is decided by the Office of the Public Guardian, meaning that a spouse or family member acting on your behalf will have to deal with a costly and time-consuming legal process, often at a time which is already stressful and upsetting.
This can be avoided by appointing someone that you trust to hold Lasting Power of Attorney over your affairs. There are two different types of Power of Attorney; the first, Property and Financial, relates to your finances whilst the second, Health and Welfare, enables the holder to make decisions regarding medical treatment and care.
Drawing up a Lasting Power of Attorney needn’t be a daunting or costly process, and our trusted business partners are here to guide you through the process. To find out more, why not contact us for an informal discussion.
For insurance business we offer products from a choice of insurers.
You may have to pay an early repayment charge to your existing lender if you remortgage.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495.