Following on from the successful launch of its Discussion Paper in July, SHIP -the equity release trade body -is asking all stakeholders to become part of the evolution of the sector by signing up to their ‘Equity Release’ development forum.

Interested parties can join the forum by signing up via a link on the SHIP website www.SHIP-Ltd.org. As part of this key influencer group, they will receive regular information on the development process and SHIP’s other initiatives as well as an opportunity to contribute to working groups and research projects.

Topics that SHIP expects to touch on during this development process include challenges facing funding, product innovation/change, clarification of customer needs and safeguards going forward.

Andrea Rozario, Director General of SHIP comments:

“Launching our discussion paper in July was a big step forward for the industry as it allowed us to lay out a variety of issues and concepts that we need to review and tackle in order to move forward. As part of this process, we are fully committed to garnering feedback from all potential interested parties – be they individual consumers, third-sector bodies or multi-national corporations.

“An astounding 40% of the UK’s household wealth is currently held in housing equity but only 1% of UK pensioner households tap into equity release products*. As a trade body, this provides us with a huge challenge to help the industry develop more products which meet these consumers’ needs in a safe, holistic and appropriate manner.

“Therefore, feedback from all interested parties is essential and we look forward to working with all members of our development forum and other stakeholders to reach this goal.”

* = PPI – September 2009