Equity release products have established themselves as suitable financial products for the elderly in other jurisdictions such as the United Kingdom and Australia, who are asset-rich cash-poor. These products allow elders to mortgage their homes in exchange for regular income or an annuity. According to Government reports, this is no different in Singapore. Indeed, by 2030, about 30% of Singapore’s population would be above 60 years old. The twin effect of Singapore’s CPF scheme and pro-home ownership policies is that many elders are asset-rich cash-poor, with their wealth locked up in the form of real estate. The recent Housing and Development Board’s Lease and Buy-back scheme for public housing heralds the likely influx of equity release products such as the reverse mortgage. This paper discussd the legal implications of the introduction of such products, and taking guidance from the UK and Australia, discussed the possible means by which Singapore can regulate such products.

Journal Articles

• Nelson Goh, ‘Navigating the Minefield of Equity Release Products‘ (2014) 26 SAcL 461-498

This project has concluded.