Clearer legislation could benefit equity release

The introduction of clearer legislation could boost the property market, one expert believes, which in turn could potentially benefit the equity release sector.

Some "stability and clarity of legislation" is needed in order to create more favourable mortgage conditions, according to Paul Collins, editor of BuyAssociation.co.uk.

He pointed out that the previous government had ambitious building targets but they appear to have been almost forgotten now.

"So we need not only to have a clear policy but for the next government to make sure it is able to happen," he added.

Leading equity release trade body Safe Home Income Plans (SHIP) recently called on political leaders to more substantially address the key financial challenges facing the country, in particular the issue of post-retirement funding.

SHIP believes that consumers should be encouraged to consult qualified financial advisers in order to get the most from their savings and investments.

Ashall Glover Financial Services are equity release specialists