Equity Release

Equity Release is not right for everyone. But with the credit crunch and the current state of the property market, it's proving to be a real lifeline for an increasing number of people.

Equity Release used to suffer a bad press, often due to inappropriate products being sold in the 80s and 90s and latterly through the vast number of sell and rent back companies offering ASTs (Assured Shorthold Tenancies) often loosely disguised as equity release products.

Genuine Equity Release is now regulated by the Financial Services Authority - first lifetime mortgages, and, since April 2007, Home Reversion. This offers far greater protection for consumers and has ensured that Equity Release is now a viable option for people aged over 50 to get access to the money tied up in their home.

Equity Release is beginning to be seen as a flexible and intelligent option for people heading toward retirement. With the country in the midst of a pensions crisis, equity release is now entering the mainstream and people are factoring it into their financial planning.

Increasing consumer confidence has been brought about through the recent regulation of Home Reversion Plans. Equity Release is no longer just the refuge of those in financial difficulties. Property has fast become our primary asset and is being increasingly used by the next generation of retirees to finance their retirement. In the recent Pensions Report, 40% of consumers said that they expect to use their property to generate retirement income.

Brokers are therefore missing out on what could be a significant new income stream and should regard equity release as a key area of the new retirement landscape.

The new qualifications that can be obtained by brokers present a significant opportunity. However, if you don't want to take the Equity Release advisory exams yourself, refer your clients to SYH Charterhouse directly.

SYH Charterhouse are already authorised to advise on and sell Equity Release products - including Lifetime Mortgages, Home Reversions and Partial Release - and have all the necessary systems in place.

As a result, you as intermediaries do not have to worry about the additional qualifications required to sell Equity Release yourself, but can be assured that we, as an authorised and regulated company, will manage the case for you. Referrals of this kind offer another excellent income stream for your business and you have the very important added bonus of knowing the client will be in safe hands.