Equity release industry defends over-the-phone advice

SERA issued a statement yesterday urging the FSA to ban telephone sales of equity release. However, telephone-based equity release adviser, Age Partnership argues there is a place for both over-the-phone and face-to-face advice. It points out customer choice is paramount and the number of plans arranged over the telephone has actually increased as the size of the equity release industry has decreased. Tim Loy, chief executive of Age Partnership, says he was surprised and disappointed about comments from Simon Chalk of SERA relating to over-the-telephone equity release advice. He...