Share
Print
Print Share

Press comment: Equity release lending 

23/01/2018

If you are covering the Equity Release Council’s Q4 figures showing unprecedented Q4 activity, please find comment from Gemma Harle, managing director of Intrinsic’s mortgage network:

“The Equity Release Council figures show the significant role housing wealth is playing as people plan their finances. A person’s home is their biggest asset alongside their pension and it is now becoming more typical for both to provide a means to fund retirement.

“Recent research from Old Mutual Wealth of those aged over 50 shows that of those current retirees who use equity release, it accounts for 7% of their retirement income, however those over 50 and yet to retire say they plan to secure 26% of their total income from it.

“However, it is crucial to take advice as relying on your home in retirement is difficult and accessing it isn’t as simple as opening the right door. Last year the FCA decided to drop plans to create a standalone equity release qualification for financial advisers. These figures suggest a review of the qualification would make some sense, given the general direction of travel for retirement planning. This would help financial advisers meet the growing demand for a holistic approach to financial planning that includes equity release, whose popularity is growing at a serious pace.”

 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

Notes to Editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.7 billion in investments (as at 30 September 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.