Stuart Wilson, CEO of Air Group on today’s Equity Release Council statistics: “Given the nature of 2020 and the upheaval that everyone had to deal with, it’s a positive that overall equity release lending remained at a strong level and just shy of £4bn for the year. The market is resilient and the role of advice is absolutely critical in ensuring consumers have access to as wide a range of products as possible, and that they get the solution which is right for them, as well as the protections that advice affords them. Consumer need in areas like paying off mortgages/debt, moving home, helping family, funding care needs, topping up pensions, are only likely to grow in the years ahead, and it’s likely to mean a far greater need for later life lending advice, not just equity release but the growing number of product solutions available.
“We want to encourage existing advisers, and those considering a move into the sector, to work with a professional partner like Air Group to ensure they have access to the best providers, products, sourcing, technology, training, qualifications, commission terms, to get the most out of the opportunity and to ensure they can access the growing client demand in this important space. As a distributor we now account for over 25% of all equity release business written which means we are at the cutting-edge of this sector and able to provide advisers with a range of opportunities they wouldn’t get elsewhere.”