A survey of financial advisers has found that equity release is set to play a growing role in the UK housing market over the next decade. The survey, conducted by mortgage broker Savills, also revealed that more than half (57%) of those surveyed said they would be willing to lend their homes out for short periods if it meant getting an income Advisers cited a lack of understanding and product knowledge regarding the concept, with 70% reporting they had encountered barriers when advising homeowners on the idea.
A survey of financial advisers has found that equity release is set to play a growing role in the UK housing market over the next decade. The study by LV= found 61% of advisers believe equity release will become a mainstream practice within the next 10 years, despite 55% of consumers expressing concerns about how it will impact the future ownership of their homes. Advisers cited a lack of understanding and product knowledge regarding the concept, with 70% reporting they had encountered barriers when advising homeowners on the idea.