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Update: The Halo effect of large brands – Andrea Rozario

by: Andrea Rozario, COO, Bower Retirement
  • 27/11/2018
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I think most would agree that this has been a stellar year for the equity release market with record breaking lending and some great product launches.



Yesterday, an article I had written regarding the new SAGA branded product was published after the launch of another product from Legal and General Home Finance, The Income Lifetime Mortgage. It is this increase in competition, flexibility and choice for customers that is helping to drive this market and clearly this is positive news.

Legal and General have had a massive impact on the equity release market, bringing a well-known and respected name to this industry coupled with flexible and innovative products has clearly been beneficial for customers and advisers alike. I have mentioned in previous articles the need for increasing choice for the customer but also the need for household names to help build confidence and reassurance across the board.

It’s very easy for those of us entrenched in the equity release industry to lose sight of what it’s like as a layperson. Understanding the features of various products and which is the best option for the client, is the adviser’s job. However what the customer wants is to feel confident in making the right choice and the halo effect of well-known names linked with equity release has an overall benefit for the image of the industry.

Clearly not all products are the right fit for all customers and in some cases equity release is not the right option in any event, but this is not the point. After years of fighting miss perceptions and inaccurate views held by many who do not really appreciate the safeguards and flexibility that these products can offer, the benefit of having increasing numbers of household names linked with equity release will only help to dismiss the myths, increase confidence and drive competition. Both the SAGA and Legal and General Product launches are testament to the growth, innovation and development of this market, all of which is good news for the customer.


Mortgage Solutions group editor’s note with apology: Andrea Rozario’s original piece was published three weeks after submission, putting her piece at a disadvantage given the subsequent L&G Home Finance product launch. That’s a publishing error. 

Thanks to our readers and Andrea for their understanding.

Victoria Hartley

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