Your article about equity release was misleading in its reliance on the West Bromwich Building Society case (see [2003] Gazette, 4 September, 4).

Plans of that type were effectively abolished in 1991.

Home & Capital Trust and other ethical providers responded by setting up safe home income plans (SHIP) to promote safe equity release schemes.

The SHIP ensures that the schemes it endorses protect against negative equity and allow freedom to move home without financial penalty.

It also requires solicitors, chosen by the client, to certify that terms have been explained to the client and understood.

Solicitors can protect themselves against the disinherited by explaining to the client and confirming in writing the effect on the estate.

Our advice - born of more than 25 years' experience - is to ensure the plan has SHIP's endorsement, and to watch out for penalty charges in the small print.

Those solicitors waiting for comprehensive regulation before advising on equity release should remember that the most notorious examples of mis-selling of financial products were all by regulated companies.

With or without regulation, the advice of solicitors will remain vital in protecting customers against unsafe schemes.

High street solicitors must be prepared to offer constructive advice.

Andrew Randall, director, Home & Capital Trust