Equity release still attractive despite house price falls

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Safe Home Income Plans (SHIP), the equity release industry body, says people need to be reassured that they can still use equity release plans despite falling house prices.

SHIP says customers should not abandon plans to release equity purely because the value of their property is declining as its members offer guarantees to keep consumers safe. Andrea Rozario, director general of SHIP, comments: “The current situation in the property market does not mean the door is closing on equity release - far from it. Falling property values do however make the very high standards that SHIP members must adhere to all the more important to consumers.” SHIP’s members are required to offer a no negative equity guarantee, meaning customers will never owe more than their ho...

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