View more on these topics

Road shows are key for advisers, says Prudential

New research from Prudential reveals that the majority of financial advisers think that roadshows play a key role in terms of them learning more about the Equity Release market.

The research also found that their clients would benefit from more information about these products.

Almost one in five (17%) of financial advisers questioned said that they do not receive enough support and information from equity release providers, clearly highlighting that more needs to be done to help and educate advisers.

When asked what would help them to advise their clients more effectively on equity release products, 73% of advisers named events such as roadshows while almost half (47%) say efficient sales tools have made it easier for them to advise their clients about this market.

Prudential is creating support tools to encourage more advisers to offer lifetime mortgages as part of a clients overall retirement planning.

Prudentials survey also showed that two thirds of advisers (66%) currently advise less than 5% of their client base on equity release products, but over a third of advisers (39%) believe that between 15-30% of their clients would benefit from equity release advice.

Ali Crossley, director of lifetime mortgages at Pru UK, says: A staggering 83% of advisers think that consumers are not as informed about lifetime mortgages as they could be, which is why Prudential is taking the lead by offering more support and education to advisers so they can help their clients make the right choice when it comes to retirement planning.

For many people, traditional pension products are often not enough to provide a satisfactory income in retirement which is why an increasing number are looking to use equity in their property. We have seen a lot of innovation in the market recently and products are now more tailored to customers needs. Our lifetime mortgage product offers great flexibility by allowing people to minimise interest by borrowing money when they need it, rather than a single lump sum up front.

Recommended

Victoria moves to boost lending

Victoria Mortgages has re-vamped its product range in an attempt to achieve 2bn in lending by the end of next year in the hope of selling the firm. The lender is part of US firm Venturion Capital, which also owns The Mortgage Operation in the UK. Alex Forrester, director at Victoria Mortgages, says: “The idea […]

Victoria updates product range

Victoria Mortgages has made a series of significant updates and improvements to its product range and lending criteria. These new developments signal the start of Victorias objective to achieve 2bn in lending by the end of 2007.Victorias packager only distribution means lower operating costs meaning savings can be passed onto the borrower in the form […]

Housing market still strong, says Stubbs

David Stubbs, RICS economist, says the Nationwide house price figures show the market is buoyant.Stubbs says: “The housing market remains strong, supported by a strong economy, rapid population growth and investor demand. Affordability and accessibility to the market, for first time buyers, is worsening as prices and interest rates rise and will continue to do […]

Buy-to-let sees best returns of 21st century

As an investment UK buy-to-let has seen the best returns in the 21st century, new research from Landlord Mortgages shows.Investors who purchased a buy-to-let property with a deposit of 25,000 could expect to see a 39,309 profit (157%) over six years. This is significantly higher than the 415 (2%) achieved by those who invested in […]

A modern horror story

Every day a quick scan of the news reveals some new horror that will change the lives of those involved forever – the unlucky accident on the way to work, a tragic illness that cuts a young life short or the holiday accident that leaves more than just a scar to cope with. We barely […]

Newsletter

News and expert analysis straight to your inbox

Sign up