Grounds for optimism in Equity Release market?

Published: 09/06/2011

Andrea Rozario, Director General of Safe Home Income Plans (SHIP), has described the performance of the equity release market as ‘fair’ despite its decrease, quarter on quarter and year on year (YOY).

The market was down 4% on Q4 2010 and 15% YOY¹.

But Rozario remains positive and is encouraged by the figures:

“Given conditions across the lending sector, this represents a fair performance by the equity release market.”¹

The Director General isn’t alone in her optimism. Many fellow SHIP members believe new equity release providers would enter the market and previous providers return this year.

Speaking on their behalf, Rozario said:

“We are optimistic about prospects for the coming year; the recent sixth annual SHIP members’ survey saw members predicting new entrants (60%) and market growth (67%) in 2011.”¹

Source
¹Age Partnership (May 2011)

Content correct at time of publication