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Equity Release sales hit five year quarterly high
Equity Release plans agreed in the third quarter of this year reached a total value of £284.1m making it the largest single quarter in sales terms since the equivalent period in 2008, according to figures from the Equity Release Council. The total represents a 14% rise from the same quarter last year and 15% increase from the previous quarter in 2013. The average amount released in the quarter was £57107 and the most telling statistic is that 97% of plans were sold through Independent Financial Advisers. Why is this important????
- There are a restricted number of lenders in the market place who are vying for business and offering special terms
- These lenders are beginning to introduce new features to their plans such as capital and interest payments, better and clearer Early Repayment charges, and more flexible drawdown options
- It therefore is absolutely vital to know the market place so that the customer ends up with the right product.
- Most importantly, a qualified adviser must also advise his client when Equity Release is not the answer and potentially point them in a different direction.
This is where I can help you and your clients. If you have older clients who have need of some capital or wish to give their children some funds now then pick up the phone as I would be very happy to discuss different options with you. I have full access to the Equity Release market place and specialize only in Equity Release complementing rather than threatening what you already do. I also have a website with useful information in which is www.trustinequityrelease.co.uk. My contact numbers are detailed below.
Steve Harrison CeMAP, CeRER
Equity Release Consultant
Trust in Equity Release
23 Emmanuel Road
Tel: 01704 233210
Mob: 07714 414545
Equity Advice Limited Liabilty Partnership trading as Trust in Equity Release is Authorised and Regulated by the Financial Conduct Authority.
Equity Advice Limited Liability Partnership, Registered Office: 95 Northgate Street, Gloucester, Gloucestershire, GL1 2AA.
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