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Large growth in UK home owners taking advantage of equity release

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Mon 02 Nov 2015

Large growth in UK home owners taking advantage of equity release

According to latest figures, equity release lending in the UK has realised its largest rise for more than a decade (11 years) with levels up by as much as £68.3 million in the third quarter of 2015, when compared with the previous quarter.

 

The Equity Release Council, responsible for issuing the figures, says that it’s clear there’s more and more home owners over the age of 55 taking advantage of their housing wealth to support their finances in later life.  
 
During the third quarter the highest annual growth rates were seen for 2015 so far, and the number of new plans surpassed 6,000 for the very first time in seven years, since the fourth quarter of 2008. This latest information shows that people are withdrawing a record amount of some £5 million of housing wealth daily.
 
If you are looking for property rather than equity release in areas such as Lapford, estate agents, Howes Estates are on hand to help you every step of the way, so why not get in touch with us today and see what we can do for you?

 

 

Image: Simon Cunningham under Creative Commons.