Homeowners considering using the value of their homes to increase their finances could be set to benefit from improved knowledge of the equity release sector.
This could help ease the minds of a number of people looking to boost their income through the use of a lifetime mortgage.
Equity release trade body Ship has announced that its campaign for clarity over the relationship between equity release schemes and state benefits has now been backed by the Personal Finance Society, the Association of Independent Financial Advisers and the Association of Mortgage Intermediaries.
A part of the campaign, Ship has launched an online questionnaire, which has been created to improve confidence among advisors.
Andrea Rozario, director general of Ship, said: "Our campaign has been very successful so far and we are delighted that these associations are voicing their support.
"With so much change and a new Secretary of State for Work and Pensions, now is the ideal time to tackle issues such as benefit clarification. Our campaign is gaining momentum and we hope other bodies will join the campaign."
Homeowners who are curious about how much cash the value of their property could generate can find out by using the equity release calculator provided by Key Retirement Solutions.
Posted by Christian O’Leary
