Safe Home Income Plans is reporting record quarterly new business figures for the period ending December 31 2004.
The value of Q4 business is 350.2 m, 25 per cent higher than Q4 in 2003. Ship is reporting a three per cent increase on the previous record of 338.4 bn in Q3 2004.
Total new business written by Ships 17 members in 2004 stood at 1.19 bn. Of this, 96.5 per cent was made up of lifetime mortgages and 65 per cent was handled by brokers.
Ship chairman Jon King says: “These results confirm emphatically that equity release is now a key financial product.”