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Equity release sales creeping up, reveals Ship

Equity release sales rose slightly during the third quarter of the year.

Figures from Safe Home Income Plans show its members wrote £295.1m in that period, an increase of 12.3 per cent on Q2 2006 but only 0.51 per cent ahead of Q3 2005.

This contributes to an annual rolling year total figure of £1.13bn to September 30, 2006.

Ship chief executive Jon King says: “The latest figures show how the equity release market continues to increase in popularity. Whilst overall business value figures, compared year on year are flat, this last quarter has seen a healthy increase compared to Q2 2006.

“The continued popularity of flexible drawdown products has resulted in a healthy rise in the number of cases. If the number of new cases continues to grow at this rate we could be set for a record year for new business.”

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My annual pilgrimage to the West Country was a somewhat muted event on this occasion. True, it was as enjoyable as usual. The weather was kind(ish) and the turnout for the seminar at the splendidly sited Carlyon Bay hotel, if a little down on previous years, included a top line-up of local advisers. But I had to come clean, you see. It is possible that 2006 would be the last year in which I endeavoured to give the good folk of Devon and Cornwall the City’s view on what was likely to happen to markets.

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