Prominent politicians back SHIP’s equity release drive

Safe Home Income Plans (SHIP) recently brought together some prominent politicians to discuss the benefits of equity release.

The organisation gathered members of all the major political parties to discuss the ways in which equity release could help ease the retirement funding burden. The “lively” debate was led by Baroness Hollis of Heigham and also comprised Dr Stephen Ladyman, Lord Davies of Coity, Baroness Gardner of Parkes, Baroness Turner of Camden, Baroness Andrews, Lord Best and Malcolm Moss MP.

SHIP’s director general, Andrea Rosario, said the meeting: “Was a testament to the growing stature and profile of equity release that we were able to attract such a range of established politicians, who came out in favour of the serious consideration of the product moving forward.”

She added: “For me, this meeting really hammered home how far the reputation of equity release has come in the last 10 years. Then, the idea of equity release being a government-recommended product would have been nigh-on unthinkable, but now it is becoming a potential reality.”

According to Ms Rosario, former home secretary David Blunkett said at a previous SHIP meeting that equity release has an “obvious role to play”, while Conservative shadow minister for pensions, Nigel Waterson, has said his party would be “keen to work with the equity release industry” should it come to power. “We just need the Liberal Democrats to come out in public favour to complete the set,” Ms Rosario concluded.