Stonehaven to host equity release seminars

A recent survey conducted by Stonehaven found that three quarters of advisers believe that equity release will become more important among over 55s following on from the proposed changes to the pensions market next April, which will give retirees more control over their pension pots.  

Recent figures from the Equity Release Council show that equity release hit its highest quarterly level for six years with a figure of £375.5m recorded for Q3 2014. This was a 15% increase on the previous quarter and is set to continue to grow throughout 2015.

The seminars will also provide an opportunity for advisers to learn more about the Voluntary Select Option product launched at the end of last year which allows homeowners to release lump sums of up to £4 million. Much like a conventional mortgage, the borrower can pay the loan back in full with unlimited instalments during the year.

Alice Watson, product and communications manager at Stonehaven, said:

“Equity release has long been touted as the next big financial product among advisers who now expect this to happen sooner rather than later and become an even stronger part of the retirement income planning mix.

“With April 2015 pension reforms on the horizon, more advisers will need to become qualified in order to give holistic retirement planning advice. Hopefully these reforms, while challenging, will be the catalyst for more advisers to undertake specialist training and our seminars are a big step towards doing this.

“In recent years, equity release products have become much more flexible and in line with the mainstream mortgage market as older homeowners wake up to the fact that they can use the equity locked up in their homes to enjoy life today and help family members.”

Seminar dates are as follows:

Brentwood – Tuesday 13 January, Holiday Inn (M25 / J28), Brook Street, Brentwood, Essex, CM14 5NF
Epsom Downs – Friday 16 January, Holiday Inn Express, Langley Vale Road, Epsom Downs, Surrey, KT18 5LG
Borehamwood – Monday 19 January, Holiday Inn (M25 / J23), Barnet By Pass, Borehamwood, Herts, WD6 5PU
Sevenoaks – Friday 23 January, Holiday Inn (M26 / J2a), London Road, Wrotham Heath, Sevenoaks, Kent, TN15 7RS
Marlow – Friday 30 January 2014, Crowne Plaza, Fieldhouse Lane, Marlow, Bucks, SL7 1GJ