Specialist

Legal & General (L&G) is to buy equity release provider New Life Home Finance (Newlife) for £5m.

Andrea Rozario on the surge in demand for equity release and the opportunities for properly qualified advisers

Equity release specialist Stonehaven has been bought out by annuity provider MGM Advantage.

Sales of equity release products have remained virtually flat in the past year, according to data from Key Retirement Solutions.

BUGBEARS

Nine in ten advisers say equity release is relevant to their client bank, according to a new research released today.

The Financial Services Authority (FSA) has published final rules on mortgage selling, convinced they will "put common sense at the heart of the market" and prevent borrowers taking out unaffordable deals.

The proportion of borrowers remortgaging increased to four in ten last month, which could signal the start of a rush as fixed rates continue to fall for home owners with a large deposit, said an adviser.

Aviva is set to expand its equity release pilot scheme, following a successful trial period earlier this year.

EQUITY RELEASE