Category: Equity Release

A very successful night for Bower at the Mortgage Strategy Awards 2017 as we picked up the award for Best Broker for Equity Release.

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 […]