Shiny suits and white socks - Equity Release

In the coming years, as many come to the realisation that they have failed to put sufficient aside for a comfortable retirement, it will come as a reality to many that they may have to sell the family silver and look at equity release. Long gone are the days that such a scenario was dismissed as only for those in lower socio economic groups. For many a life lived high on the hog with a "live for today" attitude is now coming home to roost.

The good news is that there are more options these days. For many years the equity release space was filled with few companies with little choice of policies being peddled by those in shiny suits and white socks. Things have begun to change and the market is now not only cleaning itself up with many lenders now refusing to allow unqualified salesmen to sell such policies but there are more types of policies available. I firmly believe that more companies will come into the equity release space which currently is dominated by the life companies. The main lenders are still licking their wounds from the Northern Rock fiasco but recently there has been some loosening of the purse strings with Nationwide Building Society suggesting that they are going to dip their toe into the market. And as we all know, where one breaks rank it will not be too long before there is a stampede to offer the family silver to all and sundrae. After all, once the lenders see that there is money to be made in there those hills there will be no stopping them.

If you or somone that you know may benefit from a chat about equity release then please do not hesitate to get in touch.