Research vital in equity release market
29-12-2009 09:40
A new survey illustrates the importance of research and using the services of financial advisers when considering equity release.
The survey of over 600 people, conducted by the equity release solicitors’ alliance, showed that 40% said they spent over six months researching options before approaching an IFA; an increase of 27% from August.
Working with an IFA earlier in the process could have saved them considerable time and effort.
83% of people said they had consulted relevant literature and/or guides before making their decisions, with 20% consulting literature supplied by their chosen financial adviser. This resulted in a 16% rise in the value of equity release mortgages taken out over the last year.
The Chairman of the equity release solicitors’ alliance says: "By consulting the relevant literature, shopping around and then selecting an adviser who specialises in equity release, consumers are ensuring that they have made a thorough and informed decision.
Louise Tilston of Ashall Glover Financial Services added “We provide a great deal of literature and other support to ensure that those considering equity release are fully informed of the exact process and conditions of the plan they undertake. As fully independent specialists we are committed to searching the entire market to find a plan that is right for our clients.”
Ashall Glover Financial Services are equity release specialists and have produced a series of free equity release guides to benefit all of those considering equity release.