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Equity Release is Popular as Ever
25/05/2010
A leading equity release expert has stated that the demand for equity release is as strong as ever, despite the current economic uncertainty.
Claire Baker, the chairman of the Equity Release Solicitors’ Alliance, said that there has not been a decline in the number of people looking to increase their incomes through equity release.
Speaking to the Mortgage Strategy, she said that there is "a need for these products to remain in existence" and demand for them is more likely to carry on rising over the next few years.
Ms Barker noted that "As the baby boomers reach retirement the demand for additional income is increasingly apparent. It is vitally important that home owners retain equity release as a tool for financial planning in retirement."
Last year some of the major equity release lenders left the market, The Right Equity Release hope these lenders will come back into the market to increase the completion amongst the providers.
The comments came just days after the president of the Personal Finance Society, Mike Fosberry, gave warnings that the UK may still not be completely out of recession.
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