Advisers boosting equity release awareness: Hodge

In Q1 2009 advisers accounted for 34% of all equity release introductions among customers surveyed (Q1 2008: 21%) while introductions generated from newspaper editorial and press advertising fell considerably. Intermediaries also played a significant role in determining customers' final plan choice, with 77% of respondents taking out the plan recommended by their IFA.

Jon King, managing director of Hodge Lifetime, said the increase of introductions to equity release via advisers was great news for the intermediary market and showed that real opportunities were available for today's IFA.

"The extra value IFAs bring is not just in their advice but also their product selection in response to consumer concerns."

He added: "The current economy presents many challenges for today's older homeowner and customers are becoming increasingly aware that intermediaries can offer the full range of products and ensure that their plan fully meets their needs. With a full understanding of the intricacies of equity release products on offer, IFAs in this field can ensure an additional layer of guarantees and peace of mind to older clients."