David Blunkett has given his wholehearted backing to the equity release sector, it has been revealed.
The former cabinet minister was speaking at the Safe Home Income Plans' (SHIP) First Annual Equity Release Lunch.
He commented on the problems facing the pension industry and stated that, with this form of financing possible on a large proportion of the £700 billion housing equity, it would inevitably play a part in people's considerations as they age.
But Mr Blunkett noted that he would like to see a range of products allowing older citizens to take full advantage of their situation.
Andrea Rozario, director general of SHIP, suggested that 2010 could be a successful year for everyone involved in the sector.
Equity release has my backing, says Blunkett
