Government working with industry 'key to unlocking equity release'

The government must work closely with industry in order for the benefits of equity release to be fully realised, it is believed.

Andrea Rozario, director general of Safe Home Income Plans (SHIP), said: "By working with the industry, whoever is in power after May 6th will have a better understanding of equity release and the possibilities it offers."

She went on to acknowledge that each of the main political parties have made moves to address the important issues facing the country's ageing population.

But she added that such proposals "must be more than soundbites" so that real and positive action can be taken.

Earlier this week, equity release trade body SHIP announced that the sector has remained robust despite the challenges of the economic downturn.

The size of the equity release market remained fairly stable, according to SHIP, with total market advances falling by just eight per cent in the first quarter of this year compared with the final three months of 2009.

Ashall Glover Financial Services are equity release specialists