Popularity of equity release 'expected to increase'

Consumers in the UK are likely to embrace equity release more heavily over the coming months, experts have stated.

According to research by Hodge Lifetime, three-quarters of independent financial advisers (IFA) have seen increased interest in equity release over the last year.

This, it said, demonstrates that homeowners - including over 50s considering their financial options - are still considering equity release as a means of seeing them through the recession.

Jon King, managing director at Hodge Lifetime, commented: "It is encouraging to see that IFAs are benefiting from an increase in consumer interest."

He also welcomed the fact that IFAs are becoming more confident in their ability to offer suitable advice on equity release.

However, more than one in four expressed concern that equity release is being given a negative press in the media.

This comes after Andrea Rozario, director general of Safe Home Income Plans, said recent positive movements in the equity release market show that consumer confidence in the housing market is growing.

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

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