In the fifth annual survey conducted by SHIP on its members, it found a number of future trends that will have a positive impact on equity release. Among the most popular was that the majority of respondents felt that equity release actually fulfilled a consumer need. This can be attributed to the ongoing pension deficit that many consumers close to retirement are being faced with. Another positive factor for equity release was that a minority of respondents felt that the government is increasingly gaining awareness of this product. This is unsurprising, as recent reports have revealed that many pensioners will have to rely on income generated from assets such as their home to be able to afford the lifestyle they have become accustomed to.

When speaking about the challenges the equity release suppliers faced, 38% of respondents cited reputation of the industry as a critical hurdle. While, 25% of respondents felt that the sector needed to place a greater emphasis on this product, with increased funding as a priority.

On a positive note, the vast majority of respondents felt that, although 2010 would be a challenging year for the industry, it would be similar to 2009. This prediction suggests that there will be no shrinkage in demand for this product compared to the year before. With property prices starting on a positive note this year, many prospective equity release customers may start to feel ready to investigate their options and see how much equity they can release from their homes.

Finally, when questioned over the changes within the industry over the next year, 60% of respondents felt that new funding streams will open up, 60% anticipated greater government involvement within the industry, while 40% saw a greater amount of competition entering the marketplace.