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Bridgewater sees bright future for equity release

Bridgewater Equity Release says the strength of the sector is likely to continue into Q3 2008.

The home reversion plan specialist says the recent increase in business volumes announced by Safe Home Income Plans for Q2 2008, Bridgewater says it is already seeing strong levels of business in Q3 2008.

Recent figures from SHIP showed that business volumes produced by SHIP members had increased by 14% over Q1 2008.

It says £275.7 million of equity was released by SHIP members with home reversions now accounting for 5% of all loans.

Alison Beeston, compliance and communications manager at Bridgewater, says:”As a SHIP member it is pleasing to see the growing volumes of equity release business and, if Bridgewater’s own volumes in Q3 2008 are anything to go by, this upward trend and continued strength should show up in the next set of quarterly data.

“Bridgewater’s products are only available through brokers, therefore it is welcome news to see the channel dominating equity release distribution. We continue to develop a range of sales and information aids for brokers and look forward to meeting a wide section of the broker community at the forthcoming Association of Mortgage Intermediaries road shows.”

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