Advisers want greater consumer education on equity release benefits

Advisers are positive about the outlook for the equity release market for the rest of 2010, but concerned that measures to educate consumers about the sector are not hitting their target, reveals the Bridgewater Equity Release adviser survey.

Related topics:  Property
Warren Lewis
29th July 2010
Property

Bridgewater asked advisers what they believe will happen to activity in the equity release market over the next six months.  The majority of respondents (60%) believe activity will either ‘increase’ or ‘increase a lot’ throughout the rest of 2010 while most other advisers expect activity to ‘stay the same’.  

In answering the question, ‘What do you believe would be the single biggest benefit to the equity release market in the next six months?’, 54.5% of advisers would like to see ‘wider consumer education on the benefits of equity release’.

33.3% of respondents were hoping to witness the opening up of the funding markets in order to allow new providers to enter the market and increase the business appetite of those already active in the sector.  

Not so popular options to benefit the equity release sector included the introduction of ‘a Government-sponsored kitemark range of equity release products’ chosen by 6.1% of advisers and ‘an increase in specialist equity release adviser numbers’ highlighted by just 3%.

Each month Bridgewater are now asking recipients of its intermediary ‘Release’ newsletter a series of questions relating to the equity release sector.  The newsletter also contains advice, information and support for advisers on a variety of equity release advisory topics.
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