Equity release providers have been pulling out of the market in the last 12 months or so, but news today of a new source of funds from a Guernsey firm may help to bring relief to the many equity release brokers, relief that there may be money in the market now and new products and providers may emerge. Equity release allows those over the age of 55 to free up some of the equity in their homes.
New Life Mortgages recently came back into the market after a period of absence and More 2 Life re-launched its range of equity release products to the market after obtaining funding, this again shows signs that investors may be willing to back equity release products again.
We asked equity release adviser Jennie Gray her thoughts about these new product launches, Jennie said, “I am so pleased for the consumer, there has been a reduction in choice for them with firms like Prudential pulling out of the market, I am also pleased as an adviser as I can now research more products and give my clients the service they deserve”
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