Who’s responsible for equity release education? “Not us,” say brokers

Published on

Bridgewater Equity Release has asked advisers to consider their own responsibilities in delivering increased consumer education on equity release.

The home reversion specialist has published the results of its second monthly survey with advisers suggesting the main responsibility for consumer education lies with the government and product providers.

The results come following Bridgewater’s first survey of equity release advisers where over half of all respondents said ‘wider consumer education on the benefits of equity release’ would be the single biggest benefit to the equity release sector over the next six months.

When asked, ‘Who do you believe has the main responsibility for consumer education?’ 31% of advisers said the Government, 28% chose product providers, 16% opted for the advisory community themselves and 12% answered the trade body, SHIP.

In the last survey the vast majority of advisers said they expected equity release market activity to either ‘increase’ or ‘increase a lot’ in the next six months. In the latest survey advisers were asked what percentage of that increase would be down to their own contribution. The majority of advisers (52%) said that between 26-75% of that increase in market activity would come from advisers while 19% said that an even higher percentage, 76-100%, of the growth would be down to advisers.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

The Exeter reveals 2024 health, income protection and life payouts

UK mutual health and protection insurer The Exeter paid out £61 million in claims...

Tandem reports record green lending as customers cut 70,000 tonnes of COâ‚‚

Tandem Bank has published its most comprehensive ESG report to date, disclosing that it...

HTB provides £20m+ facility for land portfolio refinancing

Hampshire Trust Bank has completed a development finance facility in excess of £20m to...

Davisons Law joins conveybuddy panel

Conveyancing distributor conveybuddy has announced that West Midlands-based Davisons Law has joined its panel...

LHV Bank backs social housing expansion with loan to Vital Homes

LHV Bank has completed its first direct loan in the social housing sector with...

Latest opinions

A home shouldn’t be out of reach for those who keep the UK running

In a housing market that has grown steadily more selective, it is often those...

Richard Pike: A conference of positivity – Global ABS Day three

It’s time for reflection of the last three days here in Barca. To readers,...

Maximising embedded value and delivering a great service

While advisers understand the importance of looking after existing clients, nurturing your back book...

Open banking and smart data transformed finance – now it’s time to do the same for property

The UK is set for a 'smart data' revolution, a revolution which began with...

Other news

The Exeter reveals 2024 health, income protection and life payouts

UK mutual health and protection insurer The Exeter paid out £61 million in claims...

Tandem reports record green lending as customers cut 70,000 tonnes of COâ‚‚

Tandem Bank has published its most comprehensive ESG report to date, disclosing that it...

HTB provides £20m+ facility for land portfolio refinancing

Hampshire Trust Bank has completed a development finance facility in excess of £20m to...