Safe Home Income Plans (SHIP), the trade body for equity release providers, has announced the results of a strategic review into its future direction, reports Mortgage Solutions (21/6/07).
SHIP has decided to expands both its resources and activity significantly, and is to appoint a full-time director general, who will focus on developing the trade body’s strategy, liasing with a range of stakeholders in the equity release industry and communicating with the media. Once appointed, the director general will work with two new SHIP boards – a main board of SHIP members who will make decisions regarding the direction of SHIP’s activity, and a new management board which will manage the execution of decisions from the main board. SHIP’s current home reversions and lifetime mortgage boards will be incorporated within the management board. It is hoped the new director general will be operational by January 2008.
Laurie Edmans, non-executive chairman of SHIP, commented: “The decision to appoint a new full-time director general represents a real advance for SHIP. It highlights the united desire of SHIP members to increase activity within the equity release market whilst continuing its positive work to raise standards of advice for customers and IFAs.”
Jon King, chief executive of SHIP, added: “SHIP has come a long way since its early days in 1991 and the member’s decision to appoint a full time director general only serves to prove this. With a dedicated management board and increased resources SHIP will be in the best position possible to push for further advancements in the equity release industry.”
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