Equity Release Scheme has a Bright Future, Financial Advisers Feel

Analysis from a leading mortgage service provider says that 96 percent financial advisers believe that equity release can help retired citizens, who are lagging behind on pension or dealing with mortgages. This plan can also be helpful in paying off other debts in retirement.

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This survey on equity release market highlights that more advisers are interested in catering their services to a large number of clients. They also acknowledge it as a part of their business and can only grow with their hard works.

Some professional believe equity release as a worthy solution to boost living standard in retirement. Besides paying off debts, equity release can also help in funding long term care cost.

However, most financial advisers believe that there is a need of improvement and awareness of equity release products and its potential benefits amongst the consumers.

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Out of all the financial advisers surveyed, only 33 percent were qualified or offering services of qualified individual in their firm and only 10 percent participated energetically in the lending services in equity release market.

Financial advisers were asked about the reasons preventing equity release advice to top the marketing priority and they reasoned interest rates behind it. Equity release interest rates are high and that is the reason why most people prefer not to take equity release. A large number of people are also mulling over other market opportunities that are available at lower interest and are cheap.

While advisers are well versed with products in equity release market but less than half are qualified to lend services themselves or from someone else who is qualified in their firm to advise clients.

Although, they can refer the clients to someone, who is expert on this matter and qualified, but most of them like dealing clients in house.

Some financial institutions work with top equity release providers and expert advisers in equity release market to provide beneficial services to clients.

The research mentions that 50 percent of unqualified advisers are willing to obtain necessary qualifications to provide expert opinions to clients.

The financial advisers prove to be handy in clinching a beneficial equity release deal. They help you evaluate property with equity release calculator and let you know the equity amount you will be able to withdraw from your house.

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Equity release has taken out millions of pensioner household from poverty and continues to doing so. With a rising number of retirees in UK, it is expected that importance of equity release scheme will continue to be felt for a long time.