The equity release market will double within five years as the Government becomes "actively engaged" in the sector, a panel of industry experts argues.
Speaking at a Norwich Union-hosted roundtable, representatives of firms including Key Retirement Solutions said the Government will work with the industry to boost take-up of the product, potentially doubling sales to £2.4bn a year by 2013. It also says it expects equity release to become a "standard and important" part of retirement planning as pension contributions dwindle and personal debt soars. "It would seem insane to discuss a person's funding for retirement and ignore the potential of their largest asset - their house - so it is natural the equity release market will grow," Prem...
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