Shortage of advisers hurts equity release - Defaqto

It says although the market has grown rapidly in recent year a lack of qualified advisers and solicitors is constraining the sector’s potential for future expansion. Recent market predictions are for new equity release business to nearly double to £2.8bn by 2008, up from an estimated £1.4bn this year. But new entrants to the market could face considerable financial and reputational risks if they miscalculate their product offerings, warns the financial research company. Defaqto believes the equity release market faces three significant hurdles: There is a requirement for good advice but...