Ship slams Govt's 'inconsistent' advice to consumers
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Safe Home Income Plans is calling for the Government to clarify the relationship between state benefits and equity release, describing current guidelines as “inconsistent” and “confusing”.
The trade body for equity release has launched a questionnaire to gather information from advisers, detailing their opinions and experiences.
SHIP says the Government should clarify what impact equity release may have on state benefits and make sure that it is aware of the issues facing advisers and customers and says the Department of Work and Pensions’ advice is inconsistent and confusing for both advisers and customers.
The results will be analysed by a group led by SHIP, Baroness Hollis and other stakeholders.
SHIP director general Andrea Rozario says: “The Government is in a state of change and older customers must not be side-lined. We have launched this campaign to provide some clarity and guidance to both advisers and their customers. Our aim is to make the process transparent and accessible for everyone.”
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