View more on these topics

60 seconds with… Ged Hosty, Managing director for equity release, Partnership

Is there a need to look at more long-term products in equity release?

If you look at other markets like annuities, you have a standard annuity rate and then the impaired enhanced products. Equity release is at the earlier stage of that in terms of looking at other factors, not just age.

Is there a need for greater innovation in the sector?
I think there is. For me the next big thing that no-one has cracked is the care market – using equity release to cater for borrowers’ social care needs. There are some structural issues with the treatment of housing assets while owners remain in their home, which is complicated. Councils have to work out whether individuals hit the requirements.
But there is a misunderstanding about what local authorities are going to provide in terms of care so people do end up living in more straitened circumstances than they otherwise would.

Are more consumers aware of equity release these days?
They should be but the reality is that the awareness among the public remains low. The recent structural changes at Safe Home Income Plans will reinforce the protections in the market, which will improve consumer confidence.

You are training to do three legs of an Iron Man on separate days – what inspired you to do that?
There was no cohesive plan, it just crept up on me and I’ve ended up in the middle of training looking forward to the end of it – I’m an accidental triathlete. In May I’m doing the Belfast Marathon, then a 3.8km swim in Reading and a 109 mile bike ride. I’m raising money for PROP, a Bristol-based charity that supports young adults with severe learning difficulties. You can sponsor me at

Which three people would you invite to a dinner party and why?
Carlos Tevez because I think he has a great work-life balance and I speak as a Manchester City fan, former rugby player Brian Moore to discuss the scrummaging laws with him and to Billy Connolly to lighten the atmosphere.

What book are you currently reading?
Beware Of The Dog which is Brian Moore’s autobiography. You expect it to be one rugby battle after another but it shows a surprising level of self-awareness.

Interview by Robert Thickett


The Mortgage Mole

Quackers: Mole was interested to hear that Angela Knight, chief executive of the British Bankers Association, is leaving her role in the summer.

My Worst Deal, BBC1, available on iPlayer

You know a programme entitled My Worst Deal about loan sharks, repossessions and bust lender Northern Rock is going to contain some disturbing tales. And so it does – laying bare a lending industry focussed on trickery and subtle deceits to make money. The show, part of a series on BBC 1, reveals there are […]

U-turn on advice would need new consultation

If the Financial Services Authority were to do a U-turn on its proposals for non-advised sales it would have to consult the industry again, says the Association of Mortgage Intermediaries.

Reforming India: just the beginning

By Kunal Desai, Neptune India Fund

As global investors continue to scour emerging markets through the lens of reform potential, India shines bright. Indeed, we think it can sparkle even brighter. We anticipate India’s self-imposed 10-year ‘policy holiday’ to turn into one of the most pro-growth and pro-investment policy calendars seen in Asia in years. The Indian electorate has engineered a historic verdict. We now have the strongest Indian government since 1984, with the pro-market Bharatiya Janata Party (BJP) achieving an absolute majority for the first time in the party’s history.


News and expert analysis straight to your inbox

Sign up