Ship, a self-regulator of equity release products, has said that business written by all 17 members of Safe Home Income Plans was at its highest level ever last year. Equity release business was worth over £1.4 billion to the industry in 2004, which is a 2.7% rise on last years' figures.
Two thirds of this business was written through intermediaries. The body, which claims to represent over 90% of the equity release sector, have stated that in the last quarter of 2004, 96.5% of their equity release business was lifetime mortgage products.
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