Equity Release Council Gives ‘Much Needed Boost’ to Industry

The formation of The Equity Release Council looks set to have a positive impact on the equity release industry, according to Jan Bull from 55 Plus Equity Release.

Equity release has been the subject of much discussion for many years, particularly after the economic crisis at the end of the 1980s, which left thousands of retired homeowners in the position of negative equity. Since then, equity release has left a somewhat bitter taste in the mouths of British consumers.

However, the equity release industry has since become much more tightly regulated, with the protection of consumers being a key focus. The recently formed Equity Release Council aims to improve the industry, by promoting awareness of equity release products, whilst improving consumer confidence by introducing tight regulations that members must adhere to.

The Equity Release Council recently revealed that the value of equity released in the UK has increased by almost a quarter in the last 12 months. It is thought by many that this trend looks set to continue, with more retirees taking advantage of equity release deals.

Jan Bull from 55 Plus Equity Release commented:

“The formation of The Equity Release Council has undoubtedly given a much needed boost to the industry. Consumer confidence appears to be on the up, and this looks set to continue for the foreseeable future”.

For more information on equity release, contact 55 Plus at www.55plusequityrelease.com.