Over-50s organisation Saga, is citing the success of its 'no upfront fees' equity release product, combined with its trusted brand status, as reasons for strong growth and significant increase in overall market share of its Saga Equity Release Advice Service.
The recently released Q3 figures from SHIP (Safe Home Income Plan), shows, that following a slow start to the year, there has been a steady increase in the number of people releasing equity from their homes. The Saga Equity Release Advice Service, however, has experienced a significant increase, reporting year-to-date growth of 126%. This accounts for its increase in market share more than doubling in less than a year, a trend that Saga expects to continue.
"The demographic shift and the continuing erosion of the value of pensions, means homes are becoming more than just an individual's biggest asset, it's now also a potential source of funds to help them live the life they would like in retirement", said Roger Ramsden, Chief Executive of Saga Services.
“There’s no doubt that any, and every, offering in the personal finance sector is under intense pressure from competition, so any differentiator has the potential to make a huge difference to take-up. It would appear that the immense depth of trust and belief in the Saga brand, as well as our commitment to ensuring the products and services we provide are designed with our customers at the heart is paying dividends."
"Our customers feel comfortable considering financial concepts - such as equity release - because they trust our business and our brand knowing that they will receive the service and support they need to make an informed decision."
Saga's Equity Release Advice Service does not charge a separate fee for its advice, something that people considering equity release find extremely valuable. It also offers a range of genuinely market-leading products, including the extremely popular and exclusive Saga product with no up-front fees.
The Saga Equity Release Advice Service is provided by Just Retirement Solutions Limited. The Saga Equity Release Plan is provided by Just Retirement Limited. Saga Personal Finance is a registered trading name of Acromas Financial Services Limited, which is registered in England and Wales (Company No. 3023493). Registered office: Enbrook Park, Sandgate, Kent CT20 3SE. Acromas Financial Services Limited, Just Retirement Solutions Limited and Just Retirement Limited are authorised and regulated by the Financial Services Authority.
For further press information please contact the Saga Press Office on 01303 771529.
All information contained within this release is intended for journalists only. Individuals considering Equity Release products should contact Saga’s Equity Release Service on 0800 096 7120.