2017 has been another great year for the Equity Release market, it is on course to hit the £3 billion worth of lending mark by the end of the year if its success continues at the current rate.
According to the Equity Release Council, in addition the number of available Equity Release products have tripled in the past 3 years. In the Council’s autumn report, it states that 31,158 homeowners over the age of 55 release equity from their properties using these types of plans in the first half of 2017, of which 54% were new plans. It has been noted that these statistics show how equity release is playing an important role in how retirees plan for their later lives.
Source: http://www.yourmoney.com/mortgages/equity-release-products-triple-market-heads-3bn/?utm_source=Adestra&utm_medium=email&utm_term=&utm_content=&utm_campaign=Editorial%20Newsletter%20-%20NON%20SPONSORED&utm_campaignid=534&utm_cmdid=74918
Source: http://www.equityreleasecouncil.com/document-library/equity-release-market-report-autumn-2017/
