Equity release 'should be a key part of over 50s finance'

The government has been called upon to make equity release a key part of funding planning for retired over 50s.

A new discussion paper has been launched by equity release provider body Safe Home Income Plans (Ship) which has called for the financial option to be promoted as a "major player" in over 50s finance.

Among the proposals outlined in the paper are partnerships between equity release providers and local governments, as well as a formal parliamentary review of the industry's role.

The document has received the input and support of groups such as Age Concern and Help the Aged, as well as public figures like Baroness Patricia Hollis.

Baroness Hollis said: "It is rare for the public and private interests to coincide as they do with equity release. Equity release meets a truly urgent social need in the most decent way possible."

This comes after Ship published data earlier this month which showed a five per cent increase in new equity release customers from April to June compared to the first three months of the year.

To view businesses and services in our Equity Release section click here

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