Still standing

With property prices falling and lending criteria on traditional mortgages tightening, the equity release market seems unfazed and is still going as a retirement funding option

As property experts forecast a market slowdown, previously marginalised equity release products are going strong. But who should buy them, and how are they contending with property problems and the infamous credit crunch? The equity release market has grown from £100m in the late 1990s to around £1bn in 2005. With 28,000 new plans drawn last year and over 150,000 plans currently in use, this previously marginalised and sometimes-maligned retirement plan looks set to grow further. This is especially true with the addition of flexible borrowing and the anticipated entrance of Coventry Buil...