Equity release consumers have benefited from low interest rates and increased competition between providers in 2005 but this is expected to be even better in 2006, according to a new survey.
Safe Homes Income Plans (SHIP) claims most of its members predict the equity release sector will become more competitive from the first quarter of 2006. It says all those surveyed also believe equity release interest rates will either stay the same or decrease in 2006 leading to cheaper deals as providers compete with each other to attract new business. Of the product features currently available, the survey finds flexible drawdown facilities highest on the list of attractions for equity release customers. Historically low interest rates and good loan to value (LTV) ratios have also bee...
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