Home & Capital reports 43% increase in equity release business

Home & Capital’s parent company Sovereign Reversions has revealed strong growth for both its equity release advisory and provider businesses at today’s annual general meeting.

The firm says the value of equity release plans arranged by H&C Advisers in the four months to August 2008 year-on-year and that its business pipeline shows a rate of growth that is accelerating.

The value of home reversion plans written by H&C has increased by 20%.

Paul Spencer, chairman of Sovereign Reversions, says: “H&C’s equity release services are performing ahead of expectations and we believe our business model is resilient against the harsh economic background.

“There will be an increasing need for H&C’s equity release broker services as a growing number of retired homeowners seek to improve their financial position.”