Brokers predict equity release will be the biggest specialist growth area in the over the next 10 years, independent research commissioned by BM Solutions reveals.
The One Specialist survey asked 200 intermediaries which specialist products they thought had the greatest potential growth for over the next 10 years and 47% of respondents expect this area to have the greatest growth by 2017.
And 31% believe that there will be considerable development in buy-to-let and sub-prime products over the same period.
However, it seems that some are unsure about the potential of so-called jet-to-let or overseas buy-to-let mortgages, with few expecting further evolution of this product in the near future.
Iain Williamson, head of key accounts at BM Solutions, says: “Brokers are meeting with customers everyday, so they’re well placed to assess the future demand for these specialist product areas.
It’s interesting to see their perception of how things might change in 10 years’ time.
Talking to intermediaries is important for us to determine how the market will take shape in the future and ensures that what BM Solutions offers meets their evolving needs.”