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Strangely quiet on equity release front

It’s two weeks into 2007 and we’ve seen no movers in the equity release market yet. This is unusual as January tends to herald some jockeying for position. The market still shows signs of reasonable stability, which makes research more consistent.

Permissions have been coming through for home reversion regulation. There are less than three months to go until home reversion regulation is established alongside that of lifetime mortgages. It will be interesting to see whether there will be repositioning on pricing from the core reversion providers as they seek to consolidate and expand their market positions.

In the light of last year’s base rate increases, the good thing for lifetime mortgages is that the market is maintaining its stability. Many rates are broadly in line with where they were some 12 months ago. This is great news for advisers and consumers, following another year of house price increases.

The present state of play in the market can be seen in the table below. Just Retirement and Standard Life still lead the way on single advance rates.

The cost of borrowing for single advances is tight, with scheme flexibility and criteria being the most important differentiating factors.

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