Equity release sector remains strong

Recent reports from mortgage solutions show that the equity release market weathered the recent economic storm very well. Over the past six months applications for home reversion schemes have increased by 400%. This is partially due to the contraction of standard mortgage products available.

Home reversion schemes allow homeowners to receive increasing amounts of income as their age advances. The additional benefits are that there are no interest payments to make. Although home reversion schemes mean that homeowners effectively sell a percentage of their home, the benefit of being able to live in the property rent-free means that they are often the preferred option for many. In addition the client will benefit from any increases in house price inflation.

Louise Tilston from home reversion specialists Ashall Glover Financial Services commented: “We encourage everyone who is considering utilising a home reversion plan to take proper financial advice. A good adviser will explain the options to allow you to make an informed decision regarding the best way forward..”

Ashall Glover Financial Services home reversion plans advice