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Society of Later Life Advisers(SOLLA)

Aims to assist consumers and their families in finding trusted accredited financial advisers who understand the financial needs in later life

Area serviced:
Nationwide
Telephone:
0845 303 2909
Sector:
Public

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Subject Definitions

A cash sum is released from your property and this is used to buy an Annuity which in turn pays out a monthly amount. Part of this is used to pay the interest bill of the loan and the remaining balance can be used for an income. The original loan is then repaid when the property is sold, or you move into long term care.
Financial advice is given on specific areas of your finances. It works well with financial planning for the whole of your financial security.
Equity release is a term that refers to the various ways in which older homeowners can use their homes to generate income or lump sums, either with a loan secured on their home or by selling their property (or part of their property) but continuing to live in it during their lifetime