You are here: Home - News -

Waterson – Equity release sector ‘has come of age’ with ‘dramatic growth’ ahead

by:
  • 24/11/2017
  • 0
Waterson – Equity release sector ‘has come of age’ with ‘dramatic growth’ ahead
Outgoing Equity Release Council (ERC) chairman Nigel Waterson believes the sector has finally come of age and has put the “image issues of the past” behind it.

Speaking at the Equity Release Awards last night, Waterson said he was confident the sector would break the £3bn barrier this year and noted there were predictions by some in the market it will reach £5bn or even £8bn in the next couple of years.

He also welcomed new entrants to later-life lending and said the sector was now being taken seriously.

 

Vote of confidence

During his final speech at the annual awards dinner as chairman of the trade body, Waterson noted that during his five years at the helm of the ERC he had witnessed many changes.

“We have seen rapid growth in our sector. I have no doubt that this year we will break through the £3bn mark for new business,” Waterson said.

He noted the importance of household names joining the sector: “Legal and General a couple of years ago. More recently Canada Life and now Nationwide. These are not only huge boosts for the whole market, but also a massive vote of confidence in our standards.

 

Come of age

And Waterson addressed the industry’s improving reputation within the media and general public.

“I also firmly believe we have put firmly behind us the image issues of the past. Our media coverage nowadays is overwhelmingly positive. And our views are taken seriously by government, regulators and media,” he continued.

“In short, the sector has come of age.”

He continued: “And what of the future? I believe the council and the sector are poised for a period of even more dramatic growth.”

Waterson also took the opportunity to thank those who he had worked with closely during his time in the industry and wish his successor David Burrowes well.

 

Find out who the winners were at last night’s Equity Release Awards 2017.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release… https://t.co/0tHhv6Lwvc
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries… https://t.co/c1k3dj88LO
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals - https://t.co/nbsZh3z49u

Read previous post:
Percentage symbols tumble around a house
Lending up 14% year-on-year in October to £23.1bn, but uncertainties ahead – UK Finance

In its monthly summary on lending activity and the wider financial environment, UK Finance has revealed that mortgage lending in...

Close