Advisers key to growing equity release business

KRS’s latest UK Equity Release Market Monitor noted increasing demand for drawdown schemes and predicts strong results in the final quarter of 2007. The overall amount of equity release from homes has increased 26% to over £1bn by the end of September, compared with the third quarter of 2006. The report claims the popularity of drawdown schemes is rising rapidly, and they now account for 48% of all plans sold so far this year, compared to 19% last year. KRS says the increasing popularity of drawdown schemes has led to a fall in market share for other equity release products. Lifetime mo...