Speaking at the Equity Release Theatre at Mortgage Business Expo London, Stuart Wilson, club and franchise director at Equity Advice, explained that the high risk perception of the sector was undeserved.
Wilson said: “I believe that advising in the residential market is riskier now, and in future years, than advising in the equity release sector. In order to avoid risk advisers simply need to be good at what they do. This is the fastest changing sector in the industry and it is important that brokers keep up-to-date with any of these changes.”
With the equity release market continuing to grow at a rapid rate and broker awareness growing, Dean Mirfin, business development director at Key Retirement Solutions, expressed his pleasure at the increased role intermediaries are playing in the market.
Mirfin commented: “The market is moving in only one direction and the last quarter saw a further increase of intermediary-placed business moving up to around 72 per cent of all equity release business. This is a tremendously positive swing and ultimately the quality of advice will result in more satisfied consumers.”
