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The equity release do have an incentive - they get a set % of the sale price.
Do they? Weird. I know nothing of equity release but logic would suggest they secure a sum on the property rather than a %.
Hefty-
They take a % of the equity in exchange for paying a monthly income/pension, the amount determined by the value of the property when the deal is taken out. The longer the person lives (to 93 in my aunt's case) the more they pay out but, assuming house prices continue to rise, their share of the equity grows over the same period - so they win either way, unless the person dies just as we hit a crash in the housing market. That's how I understand it, anyway, having only just come across it for the first time.
Markyboy
Again, I wasn't expecting this, but you're probably right given the property and it would explain the £1K over £1M.
The equity release do have an incentive - they get a set % of the sale price.