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Equity Release Assists Senior Australians to Stay in their Homes
Sydney 18 August 2010 New research has found that an overwhelming number of senior
Australians want to stay in their home for as long as possible.
With the emergence of the Australian equity release market, senior
Australians now have the ability to tap into the stored wealth of
their home in order to live well in retirement and stay in their
home.
The Australian Housing and Urban Research Institute surveyed 1,600
home owners aged 55 and found that more than 90 per cent of those
surveyed wanted to stay in their home, with only 63 per cent saying
they were happy to consider living in a retirement village if they
needed help.
According to Kevin Conlon, Chief Executive of the peak equity release
industry body SEQUAL, “It is important to seek advice when
considering which product to choose”.
Conlon points out that, “SEQUAL provides specialist training for
Finance Brokers, Financial Planners and Legal Advisers so that they
can be considered a trusted source of advice for their clients”. He
strongly recommends that senior Australians considering equity
release as a retirement funding solution should, “Find an adviser
that has gained industry accreditation through SEQUAL”.
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Equity Release Industry Body Warns Government Against Poorly Considered Regulation
Sydney 6 August 2010 - In announcing the “Delivering for Seniors” package, Prime Minister Gillard has
confirmed that a re-elected Labor Government would provide greater protection
for older Australians with a Reverse Mortgage.
Kevin Conlon, Chief
Executive of SEQUAL, the peak industry body for the Equity Release market, has
responded in support of the initiative announced by the Prime Minister but warns
that any regulatory change needs to be carefully considered and proper regard
given to the extensive industry self-regulatory initiatives that already exist.
He stated that, “SEQUAL is committed to the development of an efficient and
ethical Seniors Equity Release market in Australia”.
Conlon has called
on Government and Regulators to acknowledge the meaningful consumer protection
measures that have been delivered by SEQUAL and provides a warning should this
message be ignored.
“Equity release is likely to emerge as a significant
part of retirement funding and the current debate around advice and regulatory
review needs to be carefully considered against that growing demand to ensure
choices and legitimate strategies in retirement funding are not extinguished
through unnecessary regulatory change”, warned Conlon.
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SEQUAL Raises Standards Beyond Regulatory Obligation
Sydney 18 June 2010 - SEQUAL, the industry body for Australian Seniors Equity Release, has today announced the appointment of leading Banking & Finance lawyer, Mr Jon Denovan as acting Chair of its Code of Conduct Compliance Committee.
'SEQUAL has introduced a number of significant self-regulatory initiatives and we welcome the appointment of Mr Denovan as part of our ongoing commitment to ensuring that consumers can rely on high professional standards of practice within the Australian equity release market", said Kevin Conlon, SEQUAL Chief Executive.
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Australian Reverse Mortgage Market Reaches 2.7bn
Kevin Conlon, Chief Executive of SEQUAL pointed out "attitudes towards retirement funding are changing as the largest generation within the Australian populatioin, the so-called Baby Boomers, approach the end of their working lives. The home is increasingly being considered part of the planning process as a means to unlock the substantial wealth stored in property in order to live well."
Conlon supports the view of responsible borrowing and believes this is a result of appropriate product design and the high standards of practice imposed by SEQUAL. "The effective use of a combination of lump sum and income stream facilities enables borrowers to borrow what they want when they need it" Conlon said.
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Australian Reverse Mortgage Market Reaches $2.6 Billion
Kevin Conlon, Chief Executive of SEQUAL said: "SEQUAL sees the results of the Deloitte study as testament to the fact that Seniors Equity Release continues to emerge as a key retirement funding option.
Conlon explains that equity release provides the opportunity for many Senior Austalians to access the significant wealth they have accumulated through property ownership to more effectively meet their needs beyond their working life. When used effectively, equity release can assist retirees to avoid having to sell their home in order to improve their standard of living or meet significant financial challenges such as moving into aged care. The diversified usage over the last six months demonstrates the flexibility of equity release products and the growing awareness that equity release is considered to be an important part of modern retirement funding.
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A Reverse Mortgage may be right for Many Senior Australians
Sydney, 22 June 2009 - SEQUAL welcomes the launch of ASIC's "Thinking of using the equity in your home?" consumer guide to reverse mortgages as a positive step towards a better understanding of how equity release can assist Senior Australians to meet the challenge of "Living Longer and Living Well".
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Australia's Reverse Mortgage Market Reaches $2.5 Billion
Sydney, 1 May 2009 -The Deloitte SEQUAL Reverse Mortgage Study released today found that the reverese mortgage market as at 31 December 2008 consisted of more than 37,500 reverse mortgage loans with total outstanding lending of $2.5 billion. This represents almost 8% growth over the six months from 30 June 2008 and 23% growth over the 12 months from 31 December 2007.
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SEQUAL Welcomes New Information Service
Sydney, 2 February 2009 - Through its Code of Conduct and Industry Accreditation Programmes, SEQUAL is committed to ensuring that Reverse Mortgage Consumers are able to make fully informed decisions when considering home equity release. SEQUAL welcomes the announcement today that the National Information Centre on Retirement Investments (NICRI) have launched a Reverse Mortgage consumer information service.
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"While your aim should be to find the reverse mortgage that best suits your needs, a lenders membership of SEQUAL may provide you with that little extra peace of mind."
Source: NICRI Booklet - Unlocking the Equity in your Home.
Australia's Reverse Mortgage Market Reaches $2.3 Billion
The Deloitte SEQUAL Reverse Mortgage Study found that the reverse mortgage market as at 30 June 2008 consisted of more than 36,600 reverse mortgage loans with total outstanding lending of $2.3 billion. This represents almost 14% growth over the past six months and 27% growth over the past 12 months from 30 June 2007.
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SEQUAL Presents Tom Scabareti
Sydney, 3 October 2008 - SEQUAL, the industry body for Australian Seniors Equity Release, has announced the visit from the USA of Tom Scabareti, Committee Vice Chairman of National Reverse Mortgage Lenders Association (“NRMLA”). SEQUAL has exercised its international reach to deliver a fully-informed view of the important role Equity Release can play in meeting the increasing need for Senior Australians to access effective retirement funding solutions.
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SEQUAL Announces New Chairman - Local Knowledge and International Experience
Sydney, 8 September 2008 - It was today annnounced that Mr Martin Lynch has been appointed Chairman of the Senior Australians Equity Release Association of Lenders ("SEQUAL").
Kevin Conlon, SEQUAL's Chief Executive, said "Mr Lynch is well-placed to step up from the Deputy Chairman role. He has made a valuable contribution on the SEQUAL Board and has considerable experience in the design and delivery of Reverse Mortgages both within Australia and overseas."
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SEQUAL Launches FPA-endorsed Financial Planner Equity Release Program
Sydney, 18 August 2008 – SEQUAL and the Financial Planning Association (FPA) have announced a professional development program designed to ensure that Financial Planners are well placed to advise clients on Reverse Mortgages.
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Available for Comment - Releasing Home Equity to Fund Retirement
Sydney 13 August 2008 - SEQUAL, the industry body for Seniors Equity Release, supports the findings of Dr Bruce Bradbury's report into retirement wealth and believes that there needs to be informed debate on Australians inheritance expectations.
The Australian Equity Release market is growing rapidly as the largest generation within the Australian population confronts the challenge of facing retirement "Asset-Rich but Cash Poor". However, SEQUAL believes discussion on how equity release may be used in retirement is the "Missing Link" of Dr Bradbury's report.
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SEQUAL Appoints its Inagural CEO
Sydney, 23 June 2008 – Kevin Conlon was today appointed as the first Chief Executive Officer of the Senior Australians Equity Release Association of Lenders (SEQUAL), the peak Reverse Mortgage industry association.
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Australian Reverse Mortgage Market Hits $2 Billion
The SEQUAL® Trowbridge Deloitte Reverse Mortgage Study found that the reverse mortgage market at 31 December 2007 consisted of more than 33,700 reverse mortgage loans with total outstanding lending of over $2 billion.
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First Study into Retirees Attitude to Retirement Financial Planning February 2008
Lack of financial education about how to deal with their ‘asset imbalance’ is holding seniors to ransom in their retirement, according to the first comprehensive study into the attitudes of over-60s to funding their retirement and releasing the equity in their homes.
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SEQUAL Deloitte Reverse Mortgage Study June 2007
The SEQUAL Trowbridge Deloitte Reverse Mortgage Study found that the reverse mortgage market at 30 June 2007 consisted of more than 31,500 reverse mortgages loans with total outstanding lending of over $1.8 billion.
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SEQUAL Announces NNEG Change to its Code
The ‘No Negative Equity Guarantee’ is a mandatory component of SEQUAL’s code of conduct. It guarantees that borrowers can never owe more than the value of their home.
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SEQUAL Deloitte Reverse Mortgage Study April 2007
The SEQUAL/Trowbridge Deloitte Reverse Mortgage Study Found that the reverse mortgage market at 31 December 2006 consisted of more than 27,500 loans with a total book size of just over $1.5 billion. To read more just click on the following link:
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Lender Launches SEQUAL Accredited Equity Release Training February 2007
Bluestone Equity Release has become the first reverse mortgage lender to launch a SEQUAL accredited equity release course for financial services professionals who are writing and advising on reverse mortgages.
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Western Australia First Australian to receive SEQUAL Accreditation January 2007
Local Perth resident, Pauline Murray, of Horizon Mortgage Planners Pty Ltd, has become the first SEQUAL Accredited Reverse Mortgage Consultant (RMC) in Australia.
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Make a Resolution to Retire January 2007
SEQUAL encourages a holistic view of retirement financial planning that includes factoring in the family home
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