Equity release thriving in crunch

The housing market is slowing and new mortgage volumes are falling – it’s a story we are familiar with, but the equity release market is thriving. Safe Home Income Plan’s Q2 figures, which came out this week, demonstrate how equity release is resisting the credit crunch with a 14% increase in business – an encouraging scenario considering the current economic climate.

Equity release has continued to prosper over recent months and is now helping more and more people who are asset rich but cash-poor. The high standard of regulation and the role of SHIP mean equity release provides consumers with a reliable and secure way to make use of some of the equity locked within their property in order to supplement retirement income.

Equity release is a growing market, products are becoming more flexible and for these reasons it can be a great option for brokers looking to diversify their business.