Brokers seeing equity release potential
55 per cent of brokers are considering offering equity release advice in the next 12 months, according to a recent survey by Mortgage Solutions.
While 2011 has been another tough year for other areas in the property industry, equity release has flourished. Q3 figures saw a 12 per cent year-on-year increase¹ and, according to a survey by the Equity Release Solicitors Alliance (ERSA), 38 per cent of UK homeowners are considering using their home to help fund retirement².
However, given the complex nature of equity release products, it is essential for brokers to have the right qualifications needed in order to give customers the best possible advice.
Claire Baker is the Chairperson of ERSA:
“It is really encouraging to see that so many advisers are considering entering the equity release market.
“For those prepared to commit themselves to the sector, the indictors show the equity release market is set for strong growth in 2012.
“We would suggest the first step for advisers who do wish to advise on equity release should be to engage with SHIP – which is now the trade body for the entire industry – to find out more about the market and also about what qualifications they will need to take.”³
Content correct at time of publication