Tuesday, December 5

Need for equity release 'remains strong'

There is a social need for equity release according to Marion Hatfield, a consultant for the government on pension provision, reports Mortgage Introducer (2/12/06).

Speaking at the Retirement Plus roundtable event on the future of equity release, Marion Hatfield said "I see equity release as another income stream for people who have inadequate pension provisions and are becoming more reliant on their own self-provision. I believe equity release will become a mainstream product that will help to fund many people's retirement."

Sixty Plus comment: We agree that there is a social need for equity release. However retired homeowners are using equity release for lifestyle choices as well. This may be improving quality of life, home improvements or helping children or grandchildren onto the property ladder.

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