Equity release advice 'key' for consumers

Specialist advice is "key" for homeowners who want to get the most from equity release schemes, it is stated.

The latest research from Hodge Lifetime suggests that expert equity release advice will become increasingly important as equity release moves from being a form of financial security to a means of securing a comfortable existence.

According to Hodge's survey, advisers accounted for 40 per cent of all equity release introductions during the fourth quarter of 2009.

This represents an eight per cent year-on-year increase from the equivalent period in 2008, when the figure was 32 per cent.

"Equity release awareness has grown and appreciation of its benefits is becoming more widely accepted by customers and the media alike," said Jon King, managing director of Hodge Lifetime.

SHIP, the UK's trade body for equity release product providers, recently suggested that the equity release market is set for a "vibrant" future, with consumers increasingly looking at the potential benefits available through equity release mortgages.

Ashall Glover Financial Services providing equity release advice