More and more mortgage advisers are seeking training in equity release products to help deal with the downturn in mainstream mortgages, the ifs School of Finance says.
The announcement follows figures from Safe Home Income Plans (SHIP), which suggest equity release lending is on the increase.
Over 400 advisers have registered for the ifs School of Finance Certificate in Regulated Equity Release over the past three months.
Mark Roberts, head of financial regulation at ifs, says: “Our figures support what all other indicators have been suggesting - that the equity release sector is a growing and vibrant market.
“Increasing demand for this qualification bodes well not only for the adviser community but for the increasing number of consumers seeking advice in this area.”
The FSA will require those advising on equity release products to hold appropriate qualifications by April 2009, while members of SHIP, which accounts for around 90% of the market, will only accept applications from qualified advisers.
Further research by Hodge Equity Release also found 50% of mortgage advisers are hoping to diversify their business, with many considering a move into the equity release sector.
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