Consumer Research Methodology

Over 300 hours of consumer research was conducted in two stages:

1. Qualitative stage

A total of 6 focus groups and 22 in-depth interviews were undertaken. These included single people, couples and adult children.

The interviews were conducted in London, South East and Birmingham. The focus groups were run over 2 hours and the in-depth interviews lasted for 1 hour. The selection criteria included:

  • A range of different attitudes towards equity release
  • People with a financial adviser and those without
  • A mix of men and women
  • A selection of healthy and active people and people who are unhealthy and inactive
  • Homeowners with or without a mortgage with between £0-250,000 in their pension fund.

2. Quantitative stage

This stage involved 1000 telephone interviews with consumers. The key characteristics were that:

  • All interviewees were over age 60
  • They were either approaching retirement, at the point of retirement or retired
  • They all owned a property worth at least £125,000
  • Specific quotas were set based on age, gender and region.

The interviewees were segmented into the following groups:

  • Approaching retirement: Between 1-5 years from their anticipated retirement date
  • At retirement: Less than 1 year to their anticipated retirement
  • Recently retired: Less than 1 year spent in retirement
  • Established retired: Between 1-10 years spent in retirement
  • Long term retired: More than 10 years spent in retirement