Equity release ranks seventh in unbiased.co.uk list

A new report from unbiased.co.uk shows that equity release continues to generate a healthy level of inquiry. The site’s Advice Drivers report found that of the top ten mortgage-related advice queries in March, equity release ranked seventh.

While it came behind major categories such as first-time buyer mortgages and remortgaging, interest in releasing equity in people’s homes certainly appears healthy.  The sector accounted for 7% of all inquiries.

Furthermore, unbiased.co.uk’s Advice Drivers report for the whole financial services sector showed that equity release also made it to number nine there, accounting for 4% of inquiries. The number one overall advice driver was personal retirement planning—an area where equity release is very relevant—which accounted for 38% of inquiries. Other major categories such as mortgages and savings plans featured high up the list, but the fact that equity release made it into the top ten in such a competitive field is noteworthy.

Talking about retirement planning in general, Karen Barrett, chief executive at unbiased.co.uk, comments: “With ongoing economic turbulence, many consumers nearing retirement age or thinking about retiring may be confused about their options. Retirement planning is a vastly complex area and only an independent financial adviser can look at all the factors relevant to an individual and their circumstances and recommend the best solution for them from the whole of the market.”