Ship: Equity release 'to move into mainstream'

A recent move by equity release into mainstream retirement funds is "gratifying", according to one expert.

Andrea Rozario, director general of Safe Home Income Plans (Ship), noted that a debate by the All Party Parliamentary Group had hopefully brought the option closer to the government's thinking.

She stated that her company is committed to changing the perception of equity release in Britain and Ms Rozario also remarked that it provided "a real and immediate solution" to individuals beset by problems after they retire.

Work will continue by Ship to ensure that the sector builds products that are safe for the customer.

Her comments came as the parliamentary group observed that there was an urgent need for initiatives that could improve public trust in the market.

A recent survey by the company has found that 58 per cent of its members thought that it has improved its product range to meet customer needs.

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