Latest ER Survey results focus the mind...
We recently carried out 1000 face-to-face meetings with people aged 50 and over to ask about their understanding of equity release and where and how they would seek advice. Their answers provide a vital insight into the consumer’s view of the equity release market and its players. Here are the three most relevant questions & answers worthy of your study:Q: If you were considering using equity release to raise cash, where would you go for advice?
A: 25%, the largest segment, said they would go to their bank.
Q: If you were to seek advice how would you prefer it?
A: 52% said they wanted face to face meetings in an office.
Q: With the housing market in downturn, does the fact that property prices may fall make it more or less likely that you would consider equity release?
A: 68% said that it would make no difference to their decision.
It’s clear that intermediaries may need to re-think their strategy when wishing to engage the general public. And it seems there is much to be done to convince the public that an independent adviser offers a superior service to a bank.
If you find these tips helpful or if you have any interesting equity release case studies using Retirement Plus products we’d love to hear from you - please email us at marketing@retirement-plus.co.uk or call Kate on 020 7907 8599.