the power hour
rebranding retirement
The UK’s population is getting older, people are living longer and pensions are getting smaller. Industry experts say equity release can help bridge the finance gap but consumers still don’t seem to be getting the message. Mortgage Introducer takes a look at what can be done...
What can brokers and providers do to help groW the equity release market? Jon King: The market needs an improvement in the level of demand from customers and we’ll only see that if providers and intermediaries focus on getting clients and the general public aware of the fact that equity release exists. Darren Dicks: I’d agree with that. There’s a shortage of advisers considering equity release almost because it needs rebranding. It isn’t a side product that happens after retirement. It should be part of retirement planning. And we also shouldn’t forget there are ways other than equity release of unlocking housing wealth.
Stuart Wilson: Providers are keen to distribute via intermediaries but I think advisers are still too restricted and immature in their view of equity release. Think of it like this: you wouldn’t get very far if you set up as a broker only selling 5-year fixed rates at 50% loan to value to people called Bob. I suspect this is a situation many equity release intermediaries are familiar with. They’re
36 mortgage introducer MARCH 2011
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