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Equity release business volumes up 14%, says Ship

Ship equity release providers have seen business volumes in the second quarter of this year increase by 14 per cent from quarter one.

A total of £275.7 million of equity was released by SHIP members in the second quarter, 14 per cent higher than the £242.7 million released in the first quarter.

Lump sum mortgages accounted for 53 per cent of Q2 loans, drawdown mortgages for 42 per cent and home reversions just 5 per cent.

In terms of distribution, the percentage of total equity release business carried out by the intermediary channel relative to the direct market fell slightly from 74 per cent in Q1 2008 to 71 per cent in Q2.

Ship director general Andrea Rozario says: “This success underlines the robust health of the equity release sector despite the impact of the credit crunch that is having such a negative effect on the mainstream mortgage market.

“It also serves to highlight the distinctly different forces that drive the equity release market relative to the mainstream market, including the fundamental pressures of the UK’s ageing population, falling levels of pensions contributions and the very high levels of personal wealth held in housing equity.”


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Fortis chief executive Jean-Paul Votron has been ousted from the Belgian bank. A statement said the board of directors of Fortis, along with Votron, have decided to terminate his contract “by mutual agreement” and in the interest of the group.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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