Ged Hosty, Managing Director of Equity Release, Partnership comments on the Equity Release Council’s 2013 figures: 

“Today’s figures demonstrate that the equity release market has come through the global financial crisis in much better shape than almost any other sector of financial services.  Lending dropped by only a third from peak to the lowest level of £790m in 2011, and now stands back at the volume last seen in 2008.  This is excellent news and bodes well for the future of the industry.

“The most encouraging trend is the growth in sales by Independent Financial Advisers, with broker sales now standing at their highest level ever and taking 97% of the market. This is a significant leap from 60% in 2003 and clearly demonstrates the importance to customers of independent advice for this complex and important financial decision.”