Please or to access all these features

Elderly parents

How do I stop my DF who has dementia taking out Equity Release?

51 replies

Jjcrackers · 16/04/2023 15:59

My DF has early-mid stage dementia. He is terrible with money and keeps being scammed - we now have Power of Attorney so have managed to intercept most of them.

Recently he was approached by an Equity Release company and talked into releasing equity from his home - fortunately I spoke to him just before the 'advisor' was coming to visit and managed to cancel the appointment. Despite me explaining why this wasn't a good idea at the moment, he is convinced it is 'for tax reasons' (!).

My question is - what measures can I put in place to stop him taking out an equity release loan?

The house is registered on the Land Registry 'alerts' so we will be informed if there are enquiries on the property (i.e if a scammer has persuaded him to sell it). But, my understanding is that Equity Release is a loan so there is no need to for the company to contact Land Registry?

Does any one have any advice to ensure that he can't be 'persuaded' to take out a loan?

Thank you

OP posts:
FrownedUpon · 16/04/2023 16:01

He has the right to do this if he wants to though. Perhaps he needs the money. Are you worried about your inheritance?

Swipe left for the next trending thread