Advisers and product providers have reacted angrily to this week's Which? report that asserted equity release is far from ideal for retirees with fiscal deficits.
The consumer body accused equity release plans of being expensive, inflexible and restrictive, pointing to high redemption charges and claiming they are detrimental to means-tested benefits. As such, Which? deemed them a last resort.The consensus retaliation was that such views are outdated and uninformed, with some calling them 'one-dimensional' and even predicting 'dangerous' outcomes should unsuitable alternatives be chosen. Jayne Almond, CEO of product provider Stonehaven, called the report 'just ridiculous' and 'totally inappropriate'. She commented: "Which? doesn't understand the ch...
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