Brokers are a 'dominant force' when it comes to equity release

Homeowners considering equity release benefit from the experience and expertise of intermediaries, it has been claimed.

Despite an overall dip in the property market, the number of equity release schemes facilitated by brokers has seen a healthy improvement, observed Jon King, managing director at Hodge Lifetime in an article for This is Money.

The industry expert pointed out that equity release through an intermediary agent had increased to 70 per cent of the total schemes transacted in the first quarter of the present fiscal year. In comparison, only 44 per cent of the total equity release conducted in the first quarter of 2006 was done with the help of brokers.

Equity release could see a boost owing to the rising house prices, as first-time buyers desperate to purchase their first homes flood a property market that is seeing a shortage of available housing.

Ashall Glover Financial Services are equity release specialists