Baroness Patricia Hollis has led calls for a formal government review into the use of equity release for retirement funding. She was speaking in London at the launch of a Discussion Paper by SHIP, the equity release trade body in conjunction with Ernst and Young.

Baroness Hollis said: “It is rare for the public and private interests to coincide as they do with equity release. Equity release meets a truly urgent social need in the most decent way possible- government ministers should be singing its praises