Trevor MacDonald to take another pop at equity release

Trevor MacDonald is to take another look at equity release in the autumn, he revealed on Monday’s episode of Tonight.

The original documentary on equity release aired on March 19 this year and focussed on the legacy of shared appreciation mortgages and home income plans sold in the 1980s and 1990s, using emotive case studies.

It drew widespread criticisim from within the industry, with claims that it did not represent the current market fairly by putting too much emphasis on products that are no longer available.

But consumer champion Martin Lewis claimed that equity release would soon be the next big mis-selling scandal.

Trade body Safe Home Income Plans says that this time it is hopeful that the programme will give equity release a fairer hearing.

Jon King, chief executive of SHIP, says: “I am always delighted to work with mainstream television if it is looking at equity release, as it is important that consumers become more aware of the products.

“The last programme used case-studies who had signed up for products which were all pre-SHIP or not SHIP-approved, so in a way, what better advertisement can you have for our standards?

“But, I hope this time around the programme will be more balanced and that if I am interviewed for 15 minutes it will not be cut down to a minute and a half like last time.”