Equity release plans could benefit from 'normal' property market

The future for equity release plans could be rosy after an expert suggested that the property market may be able to enjoy a sustained period of steady growth.

A reported slowdown in mortgage lending represents "normal progress" as there are likely to be ups and downs as the economy makes its gradual recovery, said Catherine Hearnden, director of MyMortgageDirect.

"As long as we see growth, I don't think it matters if the growth slows a little bit now and again," she explained.

Excessive increases in the property market are in any case undesirable, Ms Hearnden added, because in that case "we'll just go back to where we were before".

Her comments come after Ben Wilkie, editor at What Mortgage, recently said it appears likely that house prices may be set for a sustained period of steady growth, in news that could benefit the equity release sector.

Equity release plans from Ashall Glover Financial Services