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Equity Release - June 2014



    Some facts are irrefutable: today’s older generation is sitting on an arsenal of property wealth that belies its dogged frugality; retirement incomes (and savings) are in declinel; the cost of living for the future generation is rising exponentially.

    These persuasive arguments should have long since one the debate, advocates would argue, especially since the bullish product models that left savers exposed to negative equity and so scandalised the product in the 1980s and 90s are no more.

    But despite frequent predictions of an imminent explosion in interest in the product, it has remained comparatively peripheral.

    A steady rise in sales over the past two years that has accelerated since 2013 is giving rise to the view that equity release is set to breakthrough into the mainstream, especially in the wake of a Budget pensions overhaul that has all but annihilated annuities and left advisers looking for alternatives.

    This special report will review where equity release sits in the current market, what product options are available, and asks the question of whether pensioners will finally begin to unload that potent dry powder of wealth in the years to come.

    This special report is sponsored by Aviva. For product information, click here.

    All editorial is independent.

    In this special report


    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. According to the Equity Release Council, what was the change in total equity release lending from 2011 to 2013?

    2. According to Georgina Smith, how many interest-only loans are due for repayment by 2041?

    3. When did equity release products become regulated?

    4. What does KRS’s Mr Mirfin warn is the average discount price to true value with home reversion plans?

    5. What was total lending through equity release in the first quarter of 2014? £315.5m

    6. Which of the following is not a provider of enhanced lifetime mortgages? Aviva, Partnership and More 2 Life

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