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Brokers put release at top of BM survey

Speculation has increased on whether BM Solutions will be entering the equity-release market after the firm surveyed 200 brokers on whether the sector has potential.

Asked which market holds the most potential over the next 12 months, 36 per cent of the brokers who were interviewed in June put equity release at the top of their list. This was closely followed by self-cert, with 26 per cent of brokers believing it holds potential.

The sector of the market which shows least potential according to the survey is considered to be buy to let with only 8 per cent.

Both sub-prime and buy to let abroad received the same percentage of votes at 12 per cent. BM’s three core specialist sectors are sub-prime, self-cert and buy to let.

But BM says it is too early to say if it will launch into the equity-release market. Head of products and marketing Tim Hague says: “We are looking in several areas but have no immediate plans to enter into equity release.”

Key Retirement Solutions business development director Dean Mirfin says: “The equity-release market is definitely growing and there are some significant entrants this year. The problem is that there are not enough intermediaries out there to cope with demand.”

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