Category: Company News

Equity release sales continued to soar in 2016, with total lending in 2016 surpassing the £2 billion mark for the first time.

House prices rose by an average of £19,348 in 2016, with the average UK house price now fetching £308,790. According to property website Zoopla, house prices in Britain increased by 6.68% between January and early December in 2016, up from £289,442 – the equivalent of £56.57 a day!

According to the Equity Release Council, the third quarter of 2016 saw homeowners releasing a record breaking amount of money from their homes as equity release lending continues to grow. Equity release lending grows as customers unlock record breaking amounts:

In October, thousands of retirees discovered they are stuck with their unwanted annuity incomes for life, as the government scrapped its plans to create a market for secondary annuities next year. For those who had been relying on the opportunity to generate a cash lump sum in retirement from their ‘second hand annuity’, the decision […]