Homeowners use equity release to access almost £4 billion of wealth from their homes up for the seventh consecutive year.
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Category Archives: Equity Release Mortgage
Buoyant market for homeowners sees £11m of equity released each day from property and a record £1bn in the third quarter.
Greater product flexibility is driving rapid growth in homeowner demand for equity release with 120% more lending in the last two years.
There are some 3.9 million people across the country plan to release equity from their property to fund their lifestyle when they retire.
Thousands of mortgage prisoners caught paying high interest rates due to affordability rules could be given more help from lenders.
In the first quarter of 2018 housing wealth accessed using equity release has doubled in only two years with nearly £10 million a day.
Annual growth of equity release lending has reached a 15 year high as homeowners access wealth from their property.
First time buyers are less likely to be supported by the Bank of Mum and Dad as a third of parents are unable to financially support their children.
The amount of wealth accessed by homeowners in 2017 by using equity release has increased 55% over the year helped by more products.
Housing wealth in England of £1.8 trillion can be accessed with equity release and used by an aging population to fund retirement.