SHIP has seen the highest level of lending for two years, according to their Q4 results.
The equity release trade body reported total advances of £215.9m loaned by SHIP members compared to £188.5m the same time last year. This is the highest level since Q4 2009 (£231.7m.) In addition, the number of plans sold increased to 4,399 (Q4 2011) from 4,148 (Q3 2011.) Director general of SHIP, Andrea Rozario said the results "puts the industry on track for a strong 2012." Drawdown remains the most popular product with 62% of market sales followed by lump-sum mortgages (36%) and reversions (2%). However recession continues to bite hard on the industry with the value of plans ...
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