View more on these topics

Release business to hit £1bn

Over £1bn of equity will be released from homes this year, according to the Key Retirement Solutions UK equity-release monitor report.

The value of equity-release plans rose by 7 per cent to £289m in the second quarter of this year, from £270m in Q1. The total value of plans sold in the first half is £559m. KRS forecasts that equity release will hit £1.15bn by the end of the year.

Equity-release business has been growing strongly across the North. In the North-west, new equity-release plans grew by 34 per cent to £65m compared with the second half of 2003 and in the North, business rose by 31 per cent to £16m. In the South-east, sales were down by 24 per cent to £152m and there was a decline of 23 per cent in the South-west to £82m.

The report says this is due to the steady increase in house prices in the North and slow declines in house prices in the South.

KRS chief executive Colin Taylor says: “The 7 per cent increase in equity-release business in the second quarter of this year over the first quarter suggests that suppliers are more advanced in their preparations for regulation than many industry figures believe and are once more seriously looking to attract new business.”

Recommended

Sesame&#39s protection proposition will give best rates for narrowest choice

The narrowest of Sesame&#39s multi-tied protection offerings will offer Lautro commission rates of up to 37 per cent more than its whole-of-market option. Sesame&#39s protection multi-tie proposition has three tiers ranging from its Select Plus panel with six providers to its bigger Select panel as well as a whole-of-market offering. Opting for a wider market […]

Clerical Medical – Balanced Managed Fund

Type: Oeic Aim: Growth by investing globally in equities, fixed interest and cash Minimum investment: Lump sum £10,000, monthly £400, Isa lump sum £3,000, monthly £200 Investment split: 56.6% UK, 13.6% US, 5.7% Europe, 3.2% Japan, 3.2% Pacific, 12.7% fixed interest, 5% cash Isa link: Yes Pep transfers: Yes Charges: Initial 4%, annual 1% Commission: […]

PYSS to administer MW Pensions Sipp

Pointon York Sipp Solutions has been appointed to administer pension consultancy and independent trustee company MW Pensions&#39 Sipp. MW Pensions will be targeting the corporate and property Sipp marketplace in the run-up to A-day. PYSS managing director Christine Hallett says: “We are delighted to be working with a team of professional individuals who have the […]

More charity, vicar?

Solihull IFA Adrian Smith & Partners is calling on the Government to give tax relief to charities on company donations. Registered charities can claim back tax on individual donations made under the Gift Aid scheme and AS&P believes the same concession should be made on company donations as well. The IFA recently celebrated its fifth […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com