Monday, September 22, 2008
There are no fools like old fools
Andrea Rozario, director-general of Ship (Safe Home Income Plan (Ship or is it Shi* - Safe Home Income Talk ) , claimed that Which's report was "outdated". "It has not taken into consideration the market advancements of the past decade, let alone the last 12 months," she said. "Equity release products offer increasing flexibility. There are now products that offer the security of fixed-rates with little or no redemption penalties, and recently we have seen rates falling, in stark comparison to the mainstream mortgage market. "This, coupled with safeguards offered by Ship members and compared to normal mortgages, not only means that the products are safe, but also incredibly flexible."