SHIP 'has high hopes for equity release'

Over a fifth (21%) of companies believe the high level of regulation makes equity release a viable option for the future.

The poll was carried out by Safe Home Income Plans (SHIP) - which accounts for 90% of the market - and 58% of its members also thought that their product range was starting to better fulfil the needs of the customer.

Andrea Rozario, director-general of SHIP, noted that the industry has developed significantly recently and that a series of strong safeguards are now in place.

She added that it was positive news that so many groups are confident that additional funding will be found (60%) and they are sure that the process could become a "solid, long-term investment".

And former cabinet minister David Blunkett recently gave his backing to the sector, commenting that with uncertainty in the pension trade it would inevitably come into people's thinking in the future as they approached retirement age.