July 2023

How to make a medical negligence claim

Posted on 31 July 202323 March 2025 by Sarah O'Sullivan

Most medical care is safe and effective. However, mistakes and systemic errors will occasionally occur, especially where nurses and doctors are over-stretched. Fortunately, these mistakes and errors rarely cause harm, but if something does go wrong and you have been injured, you should seek the advice of a specialist medical negligence solicitor.

What qualifies as medical negligence?

The fact that there may have been an error or a poor outcome does not automatically entitle you to compensation. However, if you have been injured because a doctor or other healthcare professional has not provided the proper standard of care, it may be possible to claim compensation. You should seek specialist legal advice to help you through this process – it will be almost impossible to navigate alone, without expert help.

We understand that complaining about medical treatment can feel overwhelming and distressing, but there are many good reasons for making a complaint and possibly, in addition, a claim for negligence. For example:

it will help you understand what happened
if you have suffered injury and financial loss, it’s important that you receive the compensation that you need to build your life back up again: to fund any additional treatment, rehabilitation or additional costs and to positively plan for the future
patient safety can be improved when healthcare providers are made aware of what has happened.
In the vast majority of cases, the claim will not be made against an individual such as a doctor or nurse, but rather against their employer.

Here we set out the process:

Making a medical complaint: If you would like a full explanation of what has happened, an apology from the hospital or doctor concerned and assurances that any problems that might affect other patients have been addressed, you could consider:

complaining to the doctor or hospital involved in your care and asking for an explanation
using the formal NHS Complaints procedure to make a formal complaint
contacting the body responsible for improving and monitoring the quality of care. In England, this is the Care Quality Commission, and/or
writing to the professional regulatory organisation, for example, the General Medical Council (for doctors in United Kingdom) or the Nursing and Midwifery Council (for nurses and midwives in England and Wales) if there is a question about an individual doctor or other healthcare professional’s fitness to practice.
For further information, please see the AVMA Guide to Making a Complaint under the NHS Complaints Procedure.

Free assessment: When you get in touch, your case will be assessed – free of charge – by our specialist assessor who is a medical negligence lawyer with over 40 years’ experience. You will get a highly expert opinion and a helpful and responsive service. We will listen to you, understand what you want to achieve and advise you how best to proceed. We will also let you know if we think you do not have a case for compensation.

Will I be eligible for compensation?

A big part of the initial assessment we will do for you, is establishing what happened, and more specifically working out if there is likely to be a case for compensation to be paid. Compensation will only be paid if you can prove all three of the following:

the health professional treating you owed you a duty of care. All healthcare professionals have a duty to their patients to take reasonable care when carrying out their professional skills.
the health professional was negligent. A healthcare professional must provide an acceptable standard of care which is consistent with a responsible body of medical opinion. A healthcare professional is not negligent if other responsible healthcare professionals would have acted in the same way.
And you suffered harm, as a result of the negligence. This is known as causation.

When you come to us, we will listen to you, obtain medical records and work out whether you have a case that has a good chance of being successful.

Examples of medical negligence

There are many different ways in which medical negligence can occur. Here are some general examples:

a failure to diagnose your condition
a delay in diagnosing your condition
making the wrong diagnosis
failing to arrange the investigations or treatment you need
failing to warn about the risks of a particular procedure
surgical error
failing to recognise and act on complications
making a mistake in the prescription, administration and dispensing of drugs.

How can I afford to pay legal fees to make a claim?

Please don’t worry about costs. There are options available which mean you don’t have to pay out any money in advance of getting compensation, or at all, if the claim is not successful. There are a range of options, including no win, no fee, which we will explain to you before you start a claim. These include:

legal-expenses insurance
trade union funding
“legal aid”
private funding
“no win, no fee”.

No win, no fee

Most medical negligence clients choose a “no win, no fee” agreement. No Win, No Fee arrangement ensures you don’t pay any legal or associated costs unless your case is successful. If you win, most of your legal costs are paid by the Defendant. A small portion of your compensation may be used to cover legal costs not paid by the Defendant. The majority of our clients choose this option for peace of mind and affordability.

Is there a time limit for making a claim?

In England and Wales, a medical negligence claim must normally be brought within three years of the date of the accident or the date that you became aware that your injury was linked to the original accident (whichever is latest). This is known as the “date of knowledge”. The date of knowledge can be much later than the accident date.

If legal proceedings are not started in court within the three years, the case is then “time-barred” or “statute barred” as it is sometimes known, which means it cannot proceed.

There are exceptions and special rules apply for children, for adults with serious mental disabilities, for fatal cases and Human Rights Act cases. The courts do have discretionary power to allow claims which are already outside the time relevant limits to proceed, but these powers are only exercised under very limited circumstances.

Who will handle my case?

We have a large and experienced team of highly regarded specialist lawyers, with decades of experience and expertise in medical negligence cases. One of these lawyers will be your primary contact and will take responsibility for your case. This person will be your individual point of contact. Unlike many firms, we make sure that at Tees, our lawyers only look after a small number of clients at any one time – we want to be there for you when you need us. Your lawyer will work closely with you throughout your case to understand your concerns, answer your questions, support you through the harder times and celebrate the good times with you.

Stage 1: Investigating your claim

It’s important to investigate your claim thoroughly to establish how strong it is. The initial investigations can therefore take several months.

We will then prepare an initial statement based on your recollection of events.

We will then apply for a copy of all your medical records and sort and review these.

Any case that is brought must be supported by independent expert evidence. Therefore, the next step will be to instruct an independent medical expert to review your records and advise whether or not the care you received fell below an acceptable standard. Tees has contacts with a wide range of medical experts and we only work with those with the highest professional qualifications and reputation.

If your treatment was substandard, we will also need to instruct an independent medical expert to consider whether this caused, materially contributed to, or worsened your condition.

We may in addition, arrange a meeting with an experienced barrister and the medical experts to review the evidence in detail and ensure that your claim is strong enough to proceed.

Stage 2: Starting your case

The next step is to notify the defendant (for example the hospital) in a detailed “letter of claim”.

The defendant has four months to reply with their “letter of response”. This gives them the opportunity to investigate your case. They may deny that they are responsible for your injuries or they may agree that they are liable for some or all of your injuries. They may offer you compensation to settle your claim.

After we have received the letter of response, we will review your case further and advise you whether to commence formal court proceedings.

Stage 3: Commencing court proceedings

A claim is issued by sending a simple formal court document, called the claim form, to the court. This must be served on the defendant within four months of receiving their letter of response, together with:

a statement of your claim (the “particulars of claim”), which will set out the allegations of negligence
a “schedule of damages”, which will set out the specific financial losses incurred as a result of the alleged negligence and an estimate of the likely future losses
a medical report on your condition and prognosis.

You will need to approve all these documents and sign a “statement of truth”, confirming that the documents are true and accurate, before we send them to the defendant.

Stage 4: Timetable

The “defence” is technically due 28 days after the particulars of claim are served. However, the defendant usually applies to the court to extend this time limit and a 1-3 month extension is usually given.

After the defence has been filed, the court sends out a questionnaire to all parties; these are known as “directions questionnaires”.

Thereafter, there will be a court hearing (called a “costs case management conference”), when the court will set down a timetable of events to progress the case to trial and, in most cases, allocate both sides a “budget” for the costs that each side is allowed to incur going forwards. Generally, the trial is scheduled to take place within 12-18 months of the claim form being issued.

The timetable generally includes:

production of various documents relating to the case (“disclosure”).
exchange of statements from you and all witnesses, including the health professionals responsible for your care (“exchange of factual witness evidence”).
exchange of expert reports (“mutual exchange of expert evidence”).
a meeting between medical experts on both sides to discuss the case and try to narrow the issues prior to trial (“experts’ meetings”). This meeting usually takes place without the lawyers present.

The timetable then allows some time for negotiation between the parties, although this may happen at any point during proceedings. There is usually at least one further conference with your barrister and experts to review your case in detail and consider the best way to proceed.

Stage 5: Trial

Most cases don’t get to this stage because the vast majority of cases are settled without any court hearing. Once both parties have assessed the evidence in detail, it is often possible to negotiate a settlement. Your case may be settled because the defendant no longer feels they are able to defend the case or proceed to trial.

If the case is brought by a child, or someone who lacks capacity to manage their own affairs, the court must approve any negotiated agreement.

Some cases do proceed to trial and it is always necessary to prepare for trial. At a trial, a judge will listen to the evidence, particularly the evidence of the independent experts, and decide whether or not your claim succeeds. The length of the trial depends on the complexity of the case.

In some cases, the court will deal with just some of the issues in the first instance. For example, the court often decides to have one hearing dealing with liability and, if this succeeds, another to deal with the amount of damages (this is known as a “split trial”).

Valuing your claim

As well as investigating whether you have a claim, we will also investigate the amount of compensation to which you would be entitled. The purpose of compensation is to return you, as far as possible, to the position that you would have been in if the medical negligence had not occurred.

In many cases, we will not fully investigate how much compensation you are likely to receive until the preliminary medical issues have been considered. However, we will always be able to provide you with a broad outline at the beginning of the case. It will be impossible for us to be more precise, because we will need to investigate how much you are entitled to and obtain evidence in support. This can take time and involve additional experts.

The amount of compensation will depend on the severity of your injury and the financial consequences of your injury and will take account of:

your pain and suffering (“general damages”) and “loss of amenity” (which relates to your quality of life, if, for example, you’re now unable to carry out daily activities or hobbies).
any financial losses and expenses that you have incurred as a result of your accident (“past losses”). Evidence will be required to establish these losses. It is therefore very important to keep an accurate record of these and evidence (pay slips, receipts etc) wherever possible.
any financial losses and expenses that you will incur as a result of your accident (“future losses”).

Pain and suffering

This is an amount of money to compensate you for the pain, suffering and loss of amenity attributable to your injury. The court will consider guidelines and previous similar cases when attempting to value this part of the award.

Loss of earnings

Whether you were employed, self-employed, unemployed but looking for work; or a child at the time of your injury, you are entitled to claim for any loss of earnings you have suffered, or may in the future suffer, as a result of your injury. Amongst other things, this could include:

loss of earnings
any amounts repayable to your employer under your contract for employment
any possible effect on promotion prospects
any loss of benefits of employment such as private medical insurance, car, fuel allowance, car servicing, insurance, free/reduced food at work, concessionary fares, free board and lodgings, cheap loans, staff discounts, SAYE or share option schemes, allowances including children’s education and housing, telephone allowance and mobile phone
any possible loss of pension
(where self-employed) any effect on the growth of the business.

In some circumstances, you may also be entitled to claim for your partner’s loss of earnings, if he or she has had to take unpaid time off on your behalf.

Assistance from others

Whether or not you have paid for it, you can often recover compensation for those who have provided and/or will help you in the future as a result of your injury. Amongst other things, this could include:

nursing assistance
domestic assistance, e.g. shopping, cooking, cleaning, laundry, ironing
additional cost of maintaining accommodation, including DIY
gardening
car maintenance costs.

Medical treatment and prescriptions

You may be able to recover the cost of any private specialist treatment which has been required or may be required in the future because of your injury, for example, any medical treatment, physiotherapy, occupational therapy, speech and language therapy etc.

You are also entitled to claim the cost of individual prescription fees, pre-payment prescription certificates, painkillers, bandages etc in so far as they relate to your injury.

Accommodation

It may be that as a result of your injury, you have different accommodation needs. Additional accommodation and adaptation costs, extra heating expenses, extra lighting expenses etc can all be included in your claim.

Specialist Equipment

A claim can also be made for any special equipment bought as a result of your injuries; eg wheelchairs, grabs, stair lifts etc.

Miscellaneous Costs

Other financial losses incurred as a result of your injury, can also be claimed, such as extra washing expenses, special diets, cancelled holidays, the additional costs of going on holiday, hairdressing, babysitters, telephone calls, travel expenses etc.

When is the compensation payment made?

During your case, it may be possible to obtain an interim payment of compensation from the defendant to help you purchase specific items such as a wheelchair, a car or a house. This is usually only possible if the defendant has accepted liability for your claim.

At the end of the case, compensation may either be paid as a single lump sum or as ongoing annual payments (“periodical payments”) or a combination of the two.

You may be awarded provisional damages. This is when there’s a possibility that your injury will get worse in the future, it’s possible for the court to assess the value of your injury as it stands at the time of the trial or settlement, but also make an order allowing you to come back to court if your injury gets worse. This must amount to a “serious deterioration”.

What about state benefits?

If the case is successful, certain state benefits might be deducted from your compensation and refunded to the government. In addition, if you receive compensation, your entitlement to benefits now or in the future may be affected. In some cases, if may be possible to set up a Personal Injury Trust, which is a legal device, to prevent this happening. At Tees our experts can advise you on this.

Investment Advice and Life Planning

At the end of the case, you may have a large sum of money. Our expert Wealth Management Advisers are able to advise how best to invest this money to ensure that it meets your future needs and any other specific concerns that you may have.

Our specialist Private Client Team will be able to help you Make a Will and Lasting Powers of Attorney.

Court of protection and deputyship

If you have a serious mental disability and are not able to manage your affairs, an application will need to be made to the Court of Protection for a deputy to be appointed. We can assist with the court application and provide advice to the deputy. These costs will form part of the compensation sought in your claim.

Guide to buying new build homes

Posted on 25 July 202326 March 2025 by Sarah O'Sullivan

Buying a property is an exciting time and buying a new build property can be even more exciting as you are buying a blank canvas, with all new fittings – which you may be able to customise. However, buying a new build property is more complex than buying an existing property, with a lot more that needs to be considered. Here our conveyancing expert Marie Rodgers, sets out what you need to know.

What is a new build home?

A ‘new build’ is defined most usually as a property that was built, converted or refurbished within the last two years. People most commonly think of new build as totally new houses – those which are being bought ‘off-plan’. An ‘off-plan’ property is one that is yet to be built; it may be part-way through construction or not yet begun. The sale details for an off-plan property will comprise floorplans, working drawings and computer-generated images instead of photos, to see what the finished product will look like. However, ‘new build’ also includes properties that have been occupied or rented before, but are still owned by the builder or developer.

Reservation fee for new builds

When you agree to purchase a new build, the developer will ‘reserve’ this plot for you in return for paying a ‘reservation fee’. The amount of this fee can vary depending upon the property and development but usually varies between £500-£2,000. This forms part of the agreed purchase price and is deducted from the balance which you pay for the property on completion. It’s important that you check your reservation agreement carefully in order to work out whether this reservation fee is refundable in the event you do not proceed with the purchase of your plot.

Exchange deadline

A key difference with new builds is that the developer will impose a deadline by which an exchange of contracts must take place. This is usually 28 days. This means that the process will move at a very fast pace and it’s therefore important that you instruct a conveyancer quickly. Also make sure you act quickly upon their instructions as to what they require to progress your purchase. In the event the exchange deadline is not met, the developer reserves the right to re-market the plot, so you could lose the property.

Extras might incur more Stamp Duty Land Tax (SDLT)

One of the benefits of buying a new build property is that you have the ability to customise the property by paying for ‘extras’. Examples of the types of extras you might be able to choose from are upgraded kitchen appliances such as cooker hob, integrated fridge freezer and dishwasher, better kitchen units, better quality floor tiles, bespoke fitted wardrobes and even things for the garden such as turfing and an outside tap.

However, these additional extras may incur SDLT in their own right so it’s best to check this point with an expert. At Tees, we can refer you to a stamp duty specialist who can accurately calculate the correct SDLT you should be paying for your property.

Know exactly what you’re buying in your new build home

The marketing people will show you lots of printed materials and maybe videos to encourage you to buy but these may not show exactly what you will be buying. Your plot could be in a different location on the development site, closer to roads, recreation grounds, with different lights etc. Another thing to be certain of is the precise spec for your new home. You need to know what fixtures and fittings there will be and what building materials will be used throughout the property. Make sure you know what has and hasn’t been included in the total cost so you don’t have a problem later on.

Complex documentation

New build conveyancing is much more complex than that for an existing property. Your conveyancer will be processing a vast amount of additional documentation which comes with purchasing a new build home. They will need to ensure that the necessary planning and building regulation approvals are in place for the development and appropriate provisions are in place for the construction of the roads and sewers on the estate. They will also need to ensure that you have the necessary rights to use these roads and sewers. It’s therefore important that you instruct a conveyancer with knowledge and experience in new build conveyancing who will be able to guide you through the process and identify any issues should they arise.

Mortgage offers on new build homes

Due to the short timescales in which you have to exchange contracts, it’s important that you obtain a mortgage offer as soon as possible. You will need to make sure you have a valid mortgage offer in place before an exchange of contracts. Your conveyancer will also need to ensure that any conditions contained within this offer have been complied with and that the lender is happy to proceed.

If your property is not yet built when you exchange contracts, it’s possible that your mortgage offer may expire before you get to move into your new home. In this instance, you should speak to your mortgage broker or lender directly, in order to ensure that your offer can be extended, or a new offer obtained, should it be required. You should bear in mind that if a mortgage extension or new mortgage offer is required prior to completion, any new product or interest rate attached to the mortgage, may not be as good as the original mortgage offer issued.

Dates for completion

When you exchange contracts on a new build property, if the build is not complete, then a ‘fixed’ date cannot be agreed for completion. Instead, the developer will provide you with an ‘estimated’ date for completion. This is the developer’s best estimate for when the property will be completed based upon their forecasts. Unfortunately, factors may delay the build which are outside of the developers’ control. At Tees, we will always ensure that there is a ‘termination’ (often referred to as a ‘longstop’) date in the contract. This is the final date by which the developer has to complete the build of your property, failing which, you can terminate the contract and have your deposit and reservation fee returned to you.

Annual maintenance charge

A new property often forms part of a larger development and will involve the use of shared common areas, such as green spaces or play areas, shared accesses, or private roads. The costs for any upkeep and maintenance for these areas will be payable by the individual property owners by way of an annual maintenance charge. The amount of this charge will vary depending on the development. You should discuss this directly with the site office at the development before reserving your plot so that you are fully aware of the ongoing maintenance charges for which you will be liable.

Structural warranty

Your property will be sold with the benefit of a 10-year structural warranty. Your conveyancer will ensure your warranty is in place upon completion and provide you with a copy of the necessary documentation which you will need in the event you ever need to make a claim in future or sell the property. They will also check with your lender in order to ensure that they are happy with the warranty which is being provided.

Do I need a snagging list for my new build home?

It’s common to find defects that require rectifying. They could be relatively small issues such as poor quality paintwork or a hinge that is broken or more major issues such as a leaking pipe. The developer should check everything, but nothing is foolproof so you need to create a list of what needs doing – a snagging list. Make time to walk through the whole house systematically to check for marks, scratches, and things which are broken. You can check floors and surfaces are level and whether everything works properly. Make sure there are no leaks from any taps.

You are not able to delay moving into your property for any snagging works which may be required. At Tees, we advise that you inspect your property before moving in, once it is completed, in order to check the finish and ensure that no major works remain outstanding.

However, it may not be possible to do it before you complete if the housebuilder won’t give you access. If you do it after you move in, don’t wait too long, in case the housebuilder tries to say you caused the damage yourself. However, you do have two years from your completion date to report any defects to your housebuilder which they have to rectify as part of your property’s warranty. At Tees, we will ensure you are aware of your rights to get snags fixed and ensure there is an obligation on the developer to carry out these works. If a dispute arises, we have expert property litigation solicitors at Tees.

At Tees, our conveyancing experts have a wealth of knowledge and experience in the world of new build conveyancing and so are best placed to guide you through every step of the way, from initial instruction to completion.

Tees advises Compliance Labelling Solutions on sale to Asteria Group

Posted on 24 July 202327 March 2025 by Sarah O'Sullivan

Tees are delighted to have advised the shareholders of Compliance Labelling Solutions (CLS) on its sale to the Asteria Group (Asteria). Based in Braintree, Essex, CLS is a BRC and ISO-certified label and tag manufacturer with over 40 years of experience serving clients across a range of different sectors. The business is highly respected in the industry and is known by its customers for high quality levels of service & product.

Asteria is an international group that produces a wide range of printed packaging materials such as labels, flexible packaging, and boxes. The group has grown rapidly and currently has thirty-three production sites in Belgium, the Netherlands, France, Germany, Denmark, Spain, UK, Estonia, Ireland, and Finland. This is Asteria’s third acquisition in the UK, following CS Labels and Berkshire Labels. The transaction will allow the Asteria Group to consolidate its footprint both in the UK and the food and beverage area.

After acquiring the company through a management buy-out back in 2015, the shareholders of CLS were looking to find the right partner to take the business forward while providing stability for its employees and customers. Asteria proved to be a perfect fit, as, despite its size, it maintains the SME spirit and will enable CLS to continue guaranteeing fast delivery times and excellent service levels to its customers. The opportunity to share knowledge and skill amongst the group also presents a significant opportunity for CLS under the ownership of Asteria. CLS will continue to be led by its current management team, Matt Day, and Geoff Nunn.

The Tees corporate team advising on the transaction was led by Partner Lucy Folley, with assistance from Associate Natasha Bhandari and Solicitor Nana Poku. Senior Associates Lucy Beck and Katherine Jameson provided support on the property and employment aspects of the transaction respectively.

Commenting on the transaction Matthew Day, Director, CLS said, “The expertise and professionalism of Tees made what was a daunting task manageable and painless. With a knowledgeable team on hand working hard on our behalf, it helped achieve a deal that satisfied both sides and ensured the continued success of Compliance Labelling Solutions.”

Geoff Nunn added, “It was a pleasure working with Tees, the level of advice received was excellent and the whole team worked extremely hard to ensure tight schedules were met throughout the sale process.”

Lucy Folley commented “We were delighted to support Geoff and Matt on the sale of their highly successful business and guide them through the legal process to achieve a successful outcome. The sale is excellent news for all parties involved and we wish everyone involved all the best for the future”

Rob Dukelow-Smith, Director Forward Corporate Finance who, together with Amie Goodland, assisted Geoff and Matt in finding the buyer commented, “It was a pleasure to assist Matt & Geoff on the sale of a really well-run business to an excellent acquirer. The positive outcome all around is a testament to all their hard work, and we wish Matt & Geoff every success with their new owners.”

Tax advice for Matt & Geoff was provided by David Richardson and Christine Ingram at Croucher Needham.

How can I start investing ethically?

Posted on 12 July 202328 March 2025 by Sophie Soraf

Here are a few suggestions to get you started:

Know your values

Take time to think about which ethical approaches matter most to you. There are so many different ethical and sustainability issues that it may be hard to find one option that fits everything. Being clear what matters most to you, will help you navigate your way through complexities such as a fossil fuel company that also has a renewable energy project.

Work out where you are already investing

Your current investments, including your pension, may have ethical elements already. You need to know what you’re happy with and what you want to change. You can also consider whether you want all your investments to be based on ethical investing, or just a proportion.

To make changes, you may need to just change the fund, or possibly for a more comprehensive approach, look to a new investment management provider.

How is ESG performance worked out?

The information used to define whether a business is strong on ESG is often subjective. There are multiple frameworks that people use, with different methods of calculation, so it’s impossible to get totally accurate answers – so you should aim for an approximation.

The Financial Conduct Authority (FCA), states that ESG assertions made by companies must be ‘reasonable and substantiated’. The investment research firm, Morgan Stanley Capital International provides a grading system ranking businesses from AAA to CCC. They collate information from published corporate documents, plus academic, government and a range of other databases.

How to choose an ethical investment fund

As well as the usual things to consider when choosing a fund, for example, levels of risk, costs etc, when you want to invest ethically there are a few additional factors to consider. It’s important to ensure that investment companies are genuinely upholding ethical standards. If you look at the fund manager’s website you will often find the answers you need. You need to research the following points and if you can’t find the answers you want, don’t hesitate to ask the investment companies directly. If they are responsive and open that can say a lot about their ethical approach and their attitude to investors generally.

Find out about the following

Ethical Investment Policies: Carefully examine the investment company’s ethical investment policies. Look for clear guidelines that outline the specific environmental, social and governance (ESG) factors they consider when selecting stocks. A well-defined, transparent policy should cover areas such as: carbon emissions, working standards, diversity, animal welfare and corporate governance.
Their philosophy and screening process: the corporate reporting (such as website, prospectus, annual report) should demonstrate how comprehensively the fund managers are embracing socially responsible investing principles. Look out for impact assessments which can be an indication that the fund is genuinely committed and it is a key element. Be wary of funds that seem to present ESG as a sort of ‘nice box to tick’. Another good sign is if they have robust selection criteria for the stocks they include in their portfolios.
Research and data: ideally, you’d want a fund that has its ESG research conducted in-house as that is an indication of its level of commitment to ethical investing. Relying on third-party ESG research gives less reason to be impressed. Ratings, such as those from MSCI, can be a useful guide, however there are a lot of different views as to how these should be assessed and so they may not be that significant in reality.
Compare the investment company’s ethical policies and practices with their peers. Look for benchmarking reports that evaluate different investment companies’ ethical performance and compare them across the industry. This analysis can help identify companies that excel in ethical investing and have a proven track record.
Voting behaviour and engagement: fund managers should vote at the annual meetings held by the companies they invest in. Proxy voting allows shareholders to exercise their rights and influence corporate decision-making. If they have voted against management at any time, this shows they are willing to engage and have a proactive commitment to ethical investing. You should be able to find this information from their website where they will record how they have engaged with investee companies.
Accreditation and Certifications: Are they signatories to the United Nations’ Principles for Responsible Investment (PRI) and the UK Stewardship Code 2020 which is a code that establishes a benchmark for sustainable investment? Additionally, consider certifications specific to industries, such as Fair Trade certifications for companies involved in agriculture or manufacturing.
Transparency: Look for investment companies that provide regular and comprehensive reports on their portfolio holdings and their performance against ethical criteria. Check to see whether you can see the whole of a fund’s portfolio and that listings are not limited, for example, to the top 10 holdings. You need to be able to see and check all the underlying companies to be knowledgeable about how socially responsible the investments are.

How can I match my values to the right investment?

To effectively align investments with your values, you need to ethical investment companies that offer the following:

robust screening and selection process: they should have a rigorous screening process to identify stocks that meet specific ethical criteria. This process involves assessing environmental, social, and governance (ESG) factors and excluding companies involved in industries or practices that conflict with the investor’s values. Clear guidelines should be in place to ensure transparency and consistency in stock selection.
customisation and flexibility: they should offer customisation options to accommodate individual investors’ values. This may include providing different investment themes or portfolios aligned with specific causes, such as climate change, gender equality, or human rights.
regular portfolio reviews: they should conduct regular reviews of their portfolios to ensure ongoing alignment with investors’ values. This involves monitoring the ESG performance of companies held in the portfolio and making adjustments as needed. If a company’s practices no longer align with ethical standards, the investment company should consider divesting from that stock and finding alternatives that better meet the investor’s values.

Environmental, Social and Governance (ESG) investing has become an increasingly important focus for many of our clients.

There has been a substantial rise in the popularity of sustainable and ethical investments in recent years, driven by an increasing desire for investors to know where and how their money is being invested.

However, while these products have now become an established part of the mainstream investment landscape, many people remain confused about the terminology associated with this type of investing and are often unsure as to how to get started.

What is ESG investing?

ESG investing involves considering environmental, social and governance factors alongside financial considerations when assessing investment opportunities. When investment managers are deciding which companies to invest in, they may seek out and include companies based on their ESG characteristics.

Environmental factors refer to how companies are performing in their stewardship of the environment, for example:

Carbon footprint
Energy consumption
Greenhouse gas emissions

Social factors consider how companies manage relationships with employees, suppliers, customers, and the areas where they operate, for example:

Human rights and social justice
Working conditions and employee relations
Health and safety standards

Governance factors focus on company leadership, for example:

Board diversity, structure and pay
Avoidance of bribery and corruption
Management & culture

ESG investing offers the potential to invest in ways that reflect the values that are important to you through using investment solutions that aim to take related ESG characteristics into account.

However, with investment managers and funds using varying terms such as Ethical, Sustainable, Socially Responsible, Impact Investing or simply Green, it can be difficult for clients to really understand what these labels truly mean and how they translate into an investment strategy that matches their personal views and reflects the values that are most important to them.

Ethical investing

One of the most well-known terms is Ethical Investing. This involves actively avoiding those types of firms or industry sectors which are considered to have a negative impact on the environment or society. This approach is also known as ‘negative screening’ as it involves filtering out specific types of investment based on a series of ethical or moral judgements.

For instance, negative screening may exclude all gas and oil companies regardless of whether a firm operating in the sector generates any form of green energy. Other types of excluded ‘sin stocks’ typically include the likes of alcohol companies, tobacco producers, weapons manufacturers, the gambling industry and firms involved in animal testing.

Sustainable Investing

Sustainable Investing uses ESG principles to actively select those companies that have a positive impact on the world, often in line with the United Nations Global Goals for Sustainable Development. This approach is therefore less restrictive than ethical investing as it allows for the fact that organisations are typically not either all good or all bad.

For example, under a sustainable investment strategy, a fund manager would be allowed to invest in an oil company that was developing clean, renewable energy sources.

Socially Responsible Investing (SRI)

SRI is one of the oldest ethical investment strategies, which involves focusing on a range of socially conscious themes such as employment rights, awareness of LGBTQ factors, social justice and corporate ethics.

Impact Investing

This involves using an investment strategy which targets those companies that have a positive social and/or environmental impact whilst demonstrating high levels of accountability and governance.

Green Investing

Green Investing involves a strategy of selecting companies considered to be positive for the environment, such as those offering alternative sources of energy or those with a proven track record in reducing their environmental impact.

Are ESG funds higher risk?

There was often a perception in the early days of ESG investing that investors were putting principles before profit, with ethical or green investments generally considered to be significantly riskier than their traditional counterparts. Nowadays, however, with more and more companies adopting ESG principles within their corporate and social governance policies, there is a much wider choice of stocks available to ethical and sustainable investors, and so this style of investing can provide a compelling investment opportunity capable of generating long-term stable and sustainable returns.

Our bespoke planning process

Building a strategy around your personal core beliefs aimed at delivering financial success is central to our planning process.

One of the challenges with ESG investing is that it’s highly subjective; whilst you may want to prioritise the social impact companies can have, others may be more concerned about the environmental effects. It’s worth spending some time thinking about what is most important to you.

At Tees, as your independent financial adviser, we will work with you and take the time to truly understand your values including any ‘red lines’ you may have and where you may be willing to compromise. We take account of your financial aspirations and plan for how these can be delivered via an ESG investment strategy, that is tailored to you, so that you can feel comfortable with the investment decisions you are making.

We will also seek to understand the balance between your views and overall financial performance, as well as what impact you want your investment to have – i.e: to ‘do no harm’, or to ‘do good’.

‘Do no harm’ or ‘do good’

Seeking to invest in companies that promote ESG values that are important to you is referred to as positive screening, as you look to ‘do good’. This may mean actively looking for opportunities in certain sectors or even dedicating a portion of your portfolio to this area.

Let’s say climate change and fossil fuel use are something you want to reflect in your investments. A negative, or ‘do no harm’ screening process may mean cutting out firms that are involved in the fossil fuel industry. In contrast, a positive ‘do good’ screening method could mean diverting a portion of your portfolio towards companies that are focused on renewable energy.

When looking to build an ESG investment strategy, it’s important to bear in mind that there often needs to be compromise, rather than trying to find a portfolio which exactly matches a particular set of ethical values. There is no such thing as 100% good or bad.

Ongoing monitoring of investment managers and performance

We continually monitor the investment managers that we recommend and hold them to account to ensure that their investment strategies remain in line with the policies and beliefs for which their investments were selected on your behalf.

Monitoring and engaging with investment managers encourages good behaviour and is the best way to ensure they are practising what they are preaching.

We will also look to benchmark an investment manager’s performance comparative to their peers as well as assess performance against mainstream funds. There may be times when an ESG portfolio underperforms compared to traditional investments, as certain stocks (and indeed, whole sectors) can move in and out of favour during periods of economic and political stability.

We will look to focus on your overarching investment goals to ensure that we maximise your investment returns whilst continuing to invest in companies that work hard to manage their legacy and impact on the world.

There’s a great deal to consider when assessing ESG investment opportunities. Our clients tell us that taking professional independent financial advice from Tees, helps them to invest their money more in line with their core values and beliefs.

This material is intended to be for information purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Tees is a trading name of Tees Financial Limited which is regulated and authorised by the Financial Conduct Authority. Registered number 211314.

Tees Financial Limited is registered in England and Wales. Registered number 4342506.

Release equity from house: Increase your income

Posted on 3 July 202326 March 2025 by Sarah O'Sullivan

As we’ll explain in this article, equity release is just one of several options that are now available to over 55s who wish to increase their income. Here at Tees our Equity Release Council member and SOLLA accredited experts are on hand to help and advise you every step of the way.

We’re all living longer and often, retiring later.

Changes to the state pension age, along with anticipated shortfalls in many private pensions, mean that we’re likely to need to look to alternative solutions as to how to fund our lifestyles in or approaching retirement – or risk relying on debt in later life.

In the past five years, the total value of debt held by the over-55s is estimated to have increased by 47 per cent and in another five years, this total value is forecast to increase by 35 per cent, rising to £397bn by 2024.

The good news is that the options to increase your income in later life are growing, becoming much more attractive – and can offer you peace of mind.

Since the government introduced pension reforms in 2015, the financial services industry as a whole – including the mortgage market – has begun to catch up with the challenges and opportunities of social change and consequently, lending criteria relating to age and retirement status have become a good deal more flexible.

Only a few years ago, there might have been a small handful of building societies prepared to lend to people of older age, however today, the options are many and varied and the previously niche equity release market has seen rapid growth and development into an industry that is now more commonly referred to as the later life lending market.

It is estimated that the UK’s over-55s currently own £1trillion in housing wealth.

What is later life lending?

Put simply, it is a mortgage offered to the over 55s that is designed to let you make use of the money that’s built up in your home and help you live better in your retirement.

What are the different types of later life lending?

Lifetime Mortgage

This is a form of equity release that lets you unlock the value in your home as a tax free lump sum of money.

How does equity release work?

Equity release is essentially like a long term loan. However, you don’t have to make monthly payments, unless you choose to, and the loan is usually repaid when the last borrower moves into long term care or dies, and you keep full ownership of the property. The maximum loan amount depends on your age and how much your property is worth.

Equity release may not be right for everyone. It may affect your entitlement to state benefits and will reduce the value of your estate.

Retirement Interest Only (RIO) Mortgage

A retirement interest only mortgage is very similar to a standard interest only mortgage, but with some differences.

The main part of the loan (capital) is usually only paid off when the last borrower moves into long term care or dies and you only have to prove you can afford the monthly interest payments.

Retirement Capital & Interest (RCI) Mortgage

Much like a standard repayment mortgage you pay back both interest and capital on a monthly basis.

The main difference is that you can borrow up to a higher age than on a standard mortgage but the product is still designed to repay your mortgage in full by the end of your term.

You’ll need to be able to afford the repayments on a monthly basis.

Home Reversion Plan

A Home Reversion Plan allows you to access all or part of the value of your property while retaining the right to remain in your property, rent free, for the rest of your life.

The plan provider will purchase all or part of your house taking into account your age and your health and will provide you with a tax free cash lump sum (or regular payments) and a lifetime lease, guaranteeing you the right to stay in your property rent-free for the rest of your life.

Is borrowing in later life right for me?

It’s often a good idea to speak with family members or trusted friends before taking on further borrowing in later life, they can often offer support and suggest other ways you could raise money. Borrowing in later life can have an impact on inheritance amounts you leave and any state benefits or local authority grants you get.

Is it wise with increasing interest rates for parents to release equity to assist in paying off or reducing their children’s mortgages?

This is a complex decision and will depend on various factors, here are some considerations:

Helping your children may be beneficial if you have excess funds and you are in a financially stable situation. It’s important to ensure that you have enough savings for your own needs and emergencies before considering assisting your children with their mortgages.
Releasing equity from your home may affect your retirement plans. It’s crucial to evaluate how using this equity will impact your future financial security, as you may be reducing the value of your estate or limiting your access to funds in the long term.
Before considering equity release, explore other possibilities for helping your children with their mortgages. For instance, you could recommend they seek financial advice or explore other forms of financial support that may not have long-term consequences for your own financial situation.
While helping your children reduce their mortgage loan can be beneficial, it’s essential to involve them in the decision-making process. Make sure they understand the implications and responsibilities associated with receiving financial assistance.
Releasing equity from your home may have tax implications, such as potential inheritance tax considerations.
Releasing equity may reduce your financial flexibility. Consider whether you may need access to the equity in the future for other purposes, such as long-term care costs or other unforeseen circumstances.

Ultimately, the decision to release equity to assist your children with their mortgages depends on your financial circumstances, risk tolerance, and long-term goals. It’s advisable to seek advice from a qualified financial adviser who specialises in this area of advice or a mortgage specialist who can provide personalised help and guidance on your specific situation.

Can I apply for a later life mortgage?

Many lenders will consider applications from people aged 55 up until their 85th birthday, with some lenders offering existing customers a mortgage up to their 95th birthday.

What can the money be used for?

The money released can be used for lots of different things. Some common uses include home improvements, family gifts, funding the purchase of a further property, buying a car, travelling abroad, or funding care.

Example

Mrs Hurst needed to carry out improvements on her home and gift her daughter money to aid her in buying a house. At the time, she held a lifetime mortgage previously arranged with another lender at an uncompetitive rate of 7.19%.

In order to achieve her goals, Mrs Hurst required an urgent loan of £226,160 and a more competitive rate of interest than her existing lifetime mortgage.

Tees’ Solution

Utilising a ‘whole of market’ approach, a new Lifetime Mortgage product was secured for Mrs Hurst, offering a significantly lower rate of interest of 3.92%.

As well as releasing an initial loan, Mrs Hurst released an additional £32,665 in order to fund the necessary £25,000 for home improvements and £10,000 to aid her daughter’s home purchase.

Even though the transaction involved releasing additional equity from her home, the lower rate of interest that was secured for Mrs Hurst on her new Lifetime Mortgage arrangement has resulted in a total saving of £256,049 of mortgage interest payments over a 15 year period, compared with if she had remained with her previous lender.

Outcome

The savings we secured for Mrs Hurst means she is now more able to enjoy a more comfortable retirement.

Our clients come to us for many different reasons. One of these is we offer lenders from the whole market and are able to access low rates. This ensures our clients can enjoy their retirement to the fullest and get the most out of the value of their home.

The Tees difference: a bespoke service that’s focussed on delivering what you really need

Toni Chalmers-Smith is a later life lending specialist at Tees who has worked in the financial services industry for over 25 years. While fully qualified in all forms of life, health, mortgage and pension business, Toni is expert in advising clients who require later years advice, which includes investments, inheritance tax and estate planning, equity release and care fees planning. Toni works closely with Tees’ legal advisers in providing specialist advice on all areas of later life lending and also offers older clients a financial review and support service, especially if an individual or family member is unable to cope with day to day financial decisions.

Catherine Banks is an experienced solicitor in Tees’ residential conveyancing team, and specialises in later life lending conveyancing. Together Toni, Catherine and the rest of the Tees team work seamlessly together to ensure that the solutions they provide truly fulfil your needs, and are fully tailored to your individual circumstances.

Toni and Catherine pride themselves on offering a friendly, personal service which is designed to put you at ease and support you in these important financial decisions. Their approach is highly ethical; when dealing with older clients where there may be a vulnerability concern Toni can offer an advisory service and where necessary, work with a Power of Attorney and/or make an application to the Court of Protection on your behalf.

Expert financial and legal advice all under one roof

There are many advantages of having your financial advice and legal conveyancing services all under one roof:

A fast, efficient, joined-up service that is second to none.
Transparency in terms of our fees and any associated costs.
A fully comprehensive service that is highly cost-effective.

We at Tees strongly believe that financial and legal advice should take you to the stage where you can make clear and informed decisions, happy in the knowledge that you have received all the information and choices needed to reach those decisions.

Toni is a SOLLA Accredited Adviser and operates under its strict code of conduct. Both Toni and Catherine are members of the Equity Release Council: https://www.equityreleasecouncil.com/

Only specialist advisers can offer equity release advice.

Release equity from your house: Increase your income

Posted on 3 July 202330 March 2025 by Sophie Soraf