Almost a quarter of all consumers do not know where to access advice on equity release products, according to Newcastle Building Society Equity Release Service (NERS).
A survey commissioned by NERS also revealed that just 2% of people currently have an equity release plan, indicating a large untapped market for equity release. The small numbers of people using equity release, compared with quite a large demand for additional retirement income, could mean there are many more business opportunities for equity release advisers. The survey found 24% of respondents did not know where to turn for equity release advice, despite 45% believing equity release was a possible option for their retirement. Furthermore, just 2% of those surveyed actually have an equi...
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