SHIP comments on LV= equity release findings

Equity release trade body Safe Home Income Plans (SHIP) has commented on the research LV= carried out at its recent roadshows, which suggests that there is significant growth potential for the equity release segment.

Andrea Rozario, director general of SHIP, said: “It isn’t surprising that IFAs believe in the future growth of equity release when you consider the longevity issues we face and the problems this brings.

“Clearly the shortfall in pensions, along with an increasing need to pay for care in later life is becoming more important for the consumer and turning to their biggest asset, often their property is a logical step.

“The use of this asset can help alleviate problems for customers as long as they are fully aware of all the options open to them and this is where advisers play a critical role.”

The LV= equity release roadshows focused on professional connections and lead generation. The events covered issues around state benefits and equity release. In total 256 IFAs who attended the road shows took part in the research.