Equity Release: Government Action
Published / Last Updated on 17/04/2008
Equity Release: Government Action
The Council of Mortgage Lenders says the Government needs to take a positive stance to equity release to transform the market. Its new research shows the market for equity release has been affected by the Government’s view that it has limited relevance as it cannot help the poorest people.
The report also says that negative coverage on past difficulties in the market and the view that equity release carries a reputational risk, which deters some bigger lenders from the market has also played a part.
Our view
With an aging population and growing wealth in our properties, equity release will continue to grow although we suggest the Government does not want us to spend our equity built up in property. They want us to keep the equity to pay for old age care fees.
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