Broker section in SHIP would benefit clients and industry

When I read your recent news article about the launch of new equity release trade body Special Advice for Equity Release (Mortgage Strategy September 1), I felt compelled to comment.

Those of us involved in equity release – I’ve been working in the sector for over 10 years – know that half the problem is that consumers have little or no understanding of what equity release is and its benefits.

One of the remits of established trade body Safe Home Income Plans is to educate clients about the sector.

So when consumers take out a plan with a SHIP member, they gain an understanding of the subject and are re-assured that they are dealing with a quality provider that meets its code of conduct.

Surely the way forward is to have a broker section within SHIP? That way consumers can see its logo on the paperwork and feel confident that all is well. This would benefit consumers and the industry.

Roderick Hall

Director

Abbey Finance Brokers

By email