SERA launch ‘will improve equity release clients’ experience’

Posted 01/12/2009

The launch of the Society of Equity Release Advisers (SERA) has been hailed as a positive step which will benefit those looking to release equity.

Insurer LV= has stated that the foundation of the new trade body will lead to improved standards of practice in the sector, which it described as a “vitally important” step forward.

Vanessa Owen, head of equity release for LV=, said that releasing equity has become an increasingly important financial option due to the difficulties many are having with retirement finance.

She therefore stated that the foundation of SERA will bring advantages both to those in the industry and to clients.

Ms Owen said: “Any move by the industry to continue to build confidence and peace of mind for consumers can only be positive.”

Last month, financial services group Just Retirement called on the government to do more to promote equity release to those suffering from a shortfall in their retirement savings.