"If a client doesn’t have the flexibility they need or the loan to value is insufficient to achieve their objectives, rate may be of less consideration."
He went on to say that the growing range of products illustrated why good advice was key and why advisers were crucial in ensuring customers get the right product.
Managing director of lifetime mortgages at OneFamily, Nici Audlham-Gardiner, added that the data reflected that equity release had becomie more mainstream over recent years and was now an increasing part of retirement planning.
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