Consumers reject fee-based equity release advice

Research by ERSA says 12% of people will definitely use equity release in retirement and 20% will consider it, with 14% saying equity release would provide between a quarter and a half of their retirement finances if they did take out a plan. Despite 35% saying they would use an IFA for advice on equity release, 59% say they would not be willing to pay for an hour of advice from a specialist equity release adviser. Even those who say they would pay an upfront fee for advice were reluctant to spend more than £50 an hour on an IFA, with only 10% saying they would pay an equity release a...