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Surge in equity release business for Ship members

Mortgage business conducted by the 17 members of consumer protection body Safe Income Home Plans surged 59 per cent to £1.03bn in 2003 from £649m the previous year. Combined business, including mortgage reversion business, grew 36 per cent to £1.16bn in 2003, from £851m in 2002.

Ship chairman Jon King says: “These figures underline the success of all the companies that follow the Ship code. Significantly these figures confirm the strong growth which equity release has been enjoying over the last 10 years.”

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