With the growth in the equity release sector, more people are getting into this to secure their retirement period. Safety measures taken are one of the essential reasons behind people going for this retirement plan.

1. Release Equity from Your House to
Pay for the Basic Nursing Care
Image courtesy: http://goo.gl/0kIgI
Giving much needed respite to the senior citizens, the government
announced that as of 2017 the state will pay for the care cost exceeding
£75,000, though this cap does not include food and housing costs.
The Chairman of equity release council, Mr. Nigel Waterson has
welcomed the move by describing it as excellent news for elderly
citizens of England.
It is being assessed that almost half of the people turning 65 in future
might have to reimburse up to £20,000 for the basic nursing care. For
one in ten the figure might exceed above £100,000.

2. However, a vital point to consider is for the availability of such large
sums of money.
Mr. Waterson added that average senior
citizens, who are over 55 years of age, are in
the possession of a home that worth around
£208,686 on an average. Equity release
comes as potential helpful hand to the
people, who require paying for long term
care.
Image courtesy: http://goo.gl/3OfR5
People can keep their finger crossed for more robust products from the
equity release council, indicates the chairman. He said in an interview on
a finance website, “This move by the government will also spark
innovation as providers, such as our members, now have a framework in
which to develop robust products which meet this growing consumer
need."

3. Image courtesy: http://goo.gl/aqz1L Image courtesy: http://goo.gl/7DwCF
Meanwhile, according to some of the equity release experts, the 2013 is
shaping up as a promising year for the industry. The month of January
also went with high enthusiasm in the equity release market.
Last year, 2012, passed after creating some groundbreaking records in
the market. Equity release council revealed the figure, suggesting more
than 17,000 elderly homeowners released equity from their properties.
This calculated figure shows it as a remarkable feat, achieved by the
equity release industry since 2009.
Image courtesy: http://goo.gl/3KSgj
In the same year, the gross value of equity release market raised by 17
percent, altogether £925.7m of record sales were reported. The equity
release providers are enthusiastic to take the figure to £1bn in the 2013.

4. Another interesting statistic released by the governing body says that
average value of individual pans was above £52,000, maximum since
2008.
Now that Andrea Rozario is stepping back from the
Director-General post of equity release council,
industry achieved many milestones under her able
leadership, people in and out of the industry are hoping
for a worthy candidate to wear the Rozario’s mantle.
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However, equity release industry must keep moving in http://goo.gl/l9E8F
order to satisfy the needs and requirements of older
homeowners. More flexible plans, for releasing equity
from your house, are anticipated to get launched in recent times, in the
wake of latest announcement by the government.