Equity release options to proliferate

Posted in General

15th April 2010

Experts in the field of equity release were in agreement last week that the market for unlocking the value built up in your home needs a wider range of options.

Equity release scheme provider Hodge Lifetime and trade publication Mortgage Strategy recently sponsored a round table debate on the future of the equity release market.

The contributors noted that people looking to release equity from their homes are getting younger, and are increasingly doing it to cope with debts.

Director general of Safe Home Income Plans (SHIP) – the equity release trade body – told the journal that flexibility and innovation is key to the future of the sector.

As people with different financial needs come to look to release equity, a widening range of options – such as lifetime mortgages, home reversion plans and other new products – will be increasingly important.

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