Equity release 'like chicken and egg'

In its report ‘Equity Release in the UK 2007 – A Retirement Solution’, the company says negative comment on the market – mainly because of historical mis-selling – is causing advisers and providers to feel entering the market would not be worth their while. However, it says market conditions - underfunded pensions, low annuity rates, increased longevity, pensioner debt and soaring house prices - are perfect for homeowners to cash in their properties. David Black, head of banking at Defaqto and author of the report, says: “It’s a chicken and egg situation. For the market to take-off more r...