Just Group comments on Equity Release Council figures
The equity release market finished 2020 on a strong note with its second highest quarterly sales, according to Q4 figures released today by the Equity Release Council.
Stephen Lowe, group communications director at Just Group, said it was a resilient performance against a backdrop of political uncertainty:
“Last year was marked by considerable political uncertainty but despite this total lending for the year held steady, indicating that the underlying need for people to use the equity in their homes remains consistent.
“From the consumer and adviser point of view it has been an excellent year with greater competition between providers and increasing product flexibility so that it is easier than ever to tailor plans to needs.
“We are optimistic for 2020 because the underlying drivers of the market remain positive. More people are switching on to the idea of using the wealth in their homes to help meet their financial plans in later life – whether that is for extra income, lump sums to help with bigger ticket purchases such as home improvements or giving financial support to their family.
“Equity release is among the most closely scrutinised area of financial services but we welcome the Equity Release Council’s continued focus on pushing up standards further in order to give customers the confidence they need when considering how releasing equity should be part of their retirement planning.”
Kindly shared by Just Group