Originally equity release was designed for older people who wanted to increase their income in retirement by releasing some of the equity tied up in their homes without downsizing. The equity release market is very competitive with lenders bringing out more initiative products that can offer more flexibility than before. These new products still offer [...]
For many of us, our home is our most valuable asset. If you are over the age of 55 then it can be a way to access the equity tied up in it and have more cash to spend on everyday living and enjoyment. There are currently two equity release options: Lifetime Mortgage. This is [...]
Figures from the Equity Release Council (ERC) show the total value of equity release lending continues to grow. From 2015 to 2016 there has been a 77% rise in the amount borrowed. The most recent figures show that the average amount borrowed has now increased to £70,000. Although equity release can be right for some, [...]
Average residential property has increased by 148% in value, compared to a 66% increase in pensioners’ incomes. House prices are now almost ten times the size of the average pensioner’s yearly income. Housing wealth also grows faster than other sources of pensioner income over a 20 year period House prices in England have grown [...]
