KRS slams ‘outdated’ research on equity release

Pessimistic predictions for the equity release sector are based on “outdated” data, Dean Mirfin has claimed.

Writing in the report, Ned Cazalet said the sector still faced “headwinds” because consumers had yet to show a strong appetite for this type of arrangement.

But Mr Mirfin said: “The report quotes business volumes which are over a year old and market figures for 2013 were published in January, showing that total lending increased further to more than £1.06bn.”

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Brian Tabor, co-founder of Hertfordshire-based Carematters, said: “The only thing holding back equity release is the hangover from disgraceful products issued in the 80s and 90s.”