Although equity release mortgages are only starting to be recognised as one of the few major instruments in retirement planning; as a concept equity release has been around for a long time. Home reversions in particular are certainly not a new product and many banks have been offering these for years. Now the major equity release providers have caught up with the banks and in many cases they now offer a much more comprehensive service.
Equity release as you or I know it, however, has come a long way in the last few years. The Financial Services Authority has regulated equity release for a start. Further, the major providers have come together to form a code of conduct known as Safe Home Income Plans. This can help the applicant get the best service available.