Consumers still in dark on equity release

A monthly adviser survey from Bridgewater Equity Release reveals over half of brokers think wider consumer education would boost the market, followed by a third hoping for better product funding in the sector.

Despite this, the majority of those polled think equity release will come back strongly in 2010, where the rest expect figures to stay the same.

Other less popular options include the launch of a government sponsored kitemark or more advisers to spread the word.

"Perhaps unsurprisingly equity release advisers seem positive about the potential for increased market activity over the next six months, says Peter Welch, head of sales and distribution at Bridgewater Equity Release.

He continues: "Market activity and greater consumer knowledge about equity release are not going to magically increase on their own. It is wrong to assume or believe that it is up to someone else to deliver in this area - we all have a responsibility and given specialist advisers are on the front-line dealing with consumers, it makes sense for them to embrace the role of educating the public alongside the delivery of advice."