Why brokers would be fools to ignore equity release opportunities
With the rising cost of living and proposed changes to the State pension, the appeal of Equity Release is becoming more and more apparent, for both clients and brokers alike.
The Equity Release Solicitor’s Alliance (ERSA) recently reported 19 per cent of the UK population are definitely considering equity release and recent figures from Just Retirement confirm this surge in interest.
Based on sales between April and June, the equity release lifetime mortgage provider has enjoyed a 23.6 per cent overall year-on-year increase with equity release sales up 1.4 per cent to £67.4m.
Rodney Cook is the Chief Executive Officer at Just Retirement. He said:
“We [the group] believe the equity release sector has significant potential for long term growth, which will become more apparent as other distributors enter.”¹
Equity Release is a specialised product, one that requires both legal and financial advice from the outset. The GWLifetime team are specially trained equity release legal advisers and are committed to ensuring potential clients understand the legal nature, effects and implications an equity release policy could have. We are founding members of ERSA and can also refer your clients to a panel of qualified financial advisers.
Contact the team on 0845 373 3737.
Content correct at time of publication