SHIP’s Equity Release and State Benefits Campaign Gathers Pace

Towards the end of last month Safe Home Income Plans (SHIP) once again urged more clarity between equity release and state benefits by producing a questionnaire designed to garner feedback from advisors as well as customers.

This move has now gathered pace after a number of high profile associations offered their support.

“Associations voicing their support”

The Personal Finance Society (PFS), the Association of Independent Financial Advisers (AIFA) and the Association of Mortgage Intermediaries (AMI) have all added their voice to the campaign to improve understanding between equity release and state benefits.

Andrea Rozario, Director General of SHIP, has spoken of her delight about the level of support the questionnaire is getting. She said:

“Our campaign has been very successful so far and we are delighted that these associations are voicing their support. With so much change and a new Secretary of State for Work and Pensions, now is the ideal time to tackle issues such as benefit clarification. Our campaign is gaining momentum and we hope other bodies will join it.”

Giving and Receiving the Right Advice about Equity Release and State Benefits

The aim of the questionnaire is to help understand the relationship between equity release and state benefits and what needs to be done to improve this. Fay Goddard, chief executive of the Personal Finance Society, said:

“The issues around the interaction of State benefits and equity release are complicated. It is vital that intermediaries feel confident in the advice they give and that consumers feel assured of the quality of advice they receive, so we are pleased to support this campaign.”

Related posts:

1. More Clarity Between Equity Release and State Benefits Needed
2. More Information Needed About State Benefits and Equity Release
3. SHIP Welcome Government Review of Benefits
4. 50% Of Equity Release Customers Missing Out On State Benefits