Did you know that over 3 million people in the UK play bridge?

And that 15 million over 65s regularly read a local paper? Looking to the Equity Release (ER) market is a good way of growing your business. But first you need to understand and then contact potential clients. That can take time and money. To help, we’ve listed 10 facts that you may, or may not know – and 10 ways that could save you time, money and effort making the most of ER.

Did you know?

1) There are 2,000 Citizens Advice Bureaus across the UK who advise the elderly for free.

2) Accountants, solicitors and will writers may offer financial advice to the elderly, normally for a fee.

3) A large amount of charities exist to help the elderly with debt issues. Age Concern, Help the Aged and the Elderly Accommodation Council to name three. Charities may have lists of recommended local IFAs.

4) 84% of British adults read a regional newspaper, and 37% of them are over 55.

5) There are over 215,000 members of the WI in the UK alone.

6) ‘Silver surfers’ make up 29% of the UK’s online audience. That grew +16% last year, the fastest growing section of the population. Witness newer websites such as www.heyday.org.uk.

7) There are 17,000 care homes in Britain, and they’re exceptional at marketing themselves respectfully to the elderly.

8) Many people don’t know much about what ER can offer. What they do know is often negative, notably fear of losing their home.

9) The sheltered accommodation market is growing fast – at least 5,000 pa on a stock of some 110,000.

10) Home improvement is the most common reason for ER.

And did you know that 5.5 million over 55s are now online?

So how about?

1) Go to the NCAB website, find your local Citizens Advice Bureau and offer to run a free debt surgery.

2) Speak to your local professional advisors. Emphasise the IHT benefits of ER, explain the top five benefits and five risks of an ER plan, and try to set up a referral arrangement.

3) Send articles on ER and financial advice to your local paper. Also inform them of your plans to run a CAB free debt surgery.

4) Speak to local community groups: the WI, bridge clubs, arts societies, the rotary club. Offer to give a talk explaining the benefits and drawbacks of ER.

5) Research your local care homes (on www.carehome.co.uk). Find out how and where they market their services. Then copy them.

6) Contact local charities about their referral systems. Offer free material and information.

7) Explain the benefits of ER and SHIP membership, while addressing the negative issues openly e.g. independent legal advice, negative equity guarantees, justifying the need for the money.

8) Talk to developers of sheltered accommodation/ retirement complexes and offer your services.

9) Talk to the more reputable home improvement companies – conservatories may need equity release!

10) Run an ER seminar!