Equity release is growing in popularity but more still needs to be done to boost awareness among advisers. Paul Cowman looks at the market
The phrase "booming market" has certainly been underused in our industry in recent times. However, when you look at the sales of equity release products over the last five years, "booming" is the only way to describe it. According to Safe Home Income Plans (SHIP), business has grown from just £572 million in 2001 to £1.1 billion in 2006 and people in retirement are believed to hold somewhere in the region of £1.1 trillion of equity in their homes. There are several drivers for growth in this market, not least the fact that today average property values are nearly nine times the value of a...
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