Such products are currently being developed by three providers, namely Rismark International, Affiance (now a majority stakeholder of aggregator Lawfund) and Greenway Capital, all of whom plan to use mortgage brokers to distribute the products. A closer look at the results of the survey found that the higher the household income, the greater the interest in this type of mortgage product - to a certain level. Households with a combined income of between $75,000 and $100,000 showed the most interest (35%), while only 27% households earning between $25,000 and $50,000 would consider such a product. The least interest (25%) came from those earning less than $25,000. Alan Shields, head of financial services at Datamonitor in Asia-Pacific, said shared equity mortgages were designed to target the "aspiring home owner and high income earners" allowing them to buy properties that would normally be beyond their means. Justin Greiner, head of distribution at Greenway, said the findings confirmed that there is an "emerging understanding of equity mortgages amongst consumers, which is encouraging, because this product can enhance flexibility and freedom for home-owners. "Whilst we believe first time buyers will use the product, they should only do so after speaking to brokers who are appropriately accredited and educated. Accreditation and education of both brokers and consumers are critical success factors in increasing interest in these products," he added. The first such products are expected to be launched towards the end of the year or early next year.

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