Equity Release officially more popular than ever

27th April 2016

Figures just made public reveal record first quarter results for 2016, with £393.9m worth of equity release lending spread among more than 5,000 plans – 21% up on the same period last year.

These Equity Release Council (The Council) statistics, in what marks the 25th anniversary of the first industry standards being developed for equity release, underline the fact that equity release is more popular than ever.

More and more homeowners are making use of their housing wealth to supplement their monthly income, support younger family members with buying a property, make home improvements or pay for the trip of a lifetime.

These figures are particularly pleasing for me as my own business increases, and the industry as a whole celebrates 25 years of safe equity release. I also back the recent decision by the FCA to reduce affordability assessments for Lifetime Mortgages: I believe this is a positive step that will help more homeowners benefit from these plans. My generation is often asset rich but cash poor, and equity release constitutes a sensible way of redressing that imbalance.

I am looking forward to the next 25 years of equity release, and of helping my clients benefit from professional advice, which is so important as the market continues to develop and innovate.

If you have any questions about the subject matter of this blog, or would like more information on any equity release related point, please do not hesitate to call me on 0800 122 3004 or click below to book an appointment or request a free call-back.

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Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back