Equity Release Blog

Here is a chance to read articles and make your own comments about equity release.

A White Paper from SHIP

Tuesday, February 3, 2009

Safe Home Income Plans (SHIP), the equity release trade body, has revealed that it plans to publish a White Paper in the coming months, setting out exactly what the body hopes to achieve.

Director general Andrea Rozario said the paper would serve as a manifesto for SHIP, laying out its policies and looking at specific outcomes it is targeting to help develop the reputation and performance of the sector.

She added: "We are engaging with the stakeholders now, and getting their views on where they think we need to go, and how best to progress with the paper."

Jon King, managing director of Hodge Lifetime, argued that the Government needed to make its position on equity release clear, and suggested that SHIP's move may spark further engagement by the Government with the sector.

He continued: "This is a sensible way forward – it will spark some debate, but it is just a starting point. All of those within the industry that I have discussed this with have been very positive about the idea. We will definitely give Andrea our full support."

Posted at 2:29 PM | 0 Comments (Post a Comment)

Will this be the best year yet for equity release?

Tuesday, January 13, 2009

The economy is now in a downturn and the signs are that recession will accelerate the trend for retired people to use property as a way of helping meet their financial needs. Now more than ever, joint ownership Home Reversion Schemes will be more appealing. But it's essential that you compare the differences between the two.

Is it possible that there is a company pushing people hard for first appointments and insisting that they get better rates than anyone else in the industry? What are their charges? Don't fall for high pressure selling techniques. If they are pushy then suggest that they push off.
SHIP predicts that the equity release market will grow by over £200m in 2009 to £1.4bn. Andrea Rozario is probably correct. The Coventry Building Society made a considerable impression introducing a lifetime mortgage with No Early Repayment penalty.

Posted at 1:11 PM | 4 Comments (Post a Comment)

Another week passes and still more growth

Saturday, March 15, 2008

I hear from Garry in Norfolk that I am one of 'the chosen few' who are to be included in a new cooperative where the aim is to offer a superb service at reasonable rates. There really is passion within the Equity Release community.

I had a request from someone as to how much my costs are for arranging Equity Release. Answer: £795. I hear a rumour that there is one company is charging over £900 and in addition to the procuration fees from the lender. At the same time, I have heard of one adviser who did everything for free and even persuaded the solicitor to act ProBono as the client was in dire financial straights. That's what I mean about the integrity of some of the people in the industry.

Printed out my first Coventry Key Features Illustration yesterday and it looks very good.

Posted at 12:12 PM | 3 Comments (Post a Comment)

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