The Government must go further in its support for equity release as a key retirement funding solution.
An All Party Parliamentary Group led by Baroness Hollis of Heigham, which was convened last week to discuss equity release providing a retirement funding source, said Government attention must focus on the need to increase public trust in equity release.
The Group said that a high standard of advice was needed to support the growing demand for equity release.
Andrea Rozario, director general of Safe Home Income Plans, said: “Of course, developments must be made and challenges lie ahead for providers, distributors, government and consumers alike – but the debate produced by this Group is the first vital step in bringing equity release much closer to the heart of Government thinking.”
