Category: Equity Release

A staggering £384.3m was lent out by equity release providers in the second quarter of this year – that’s the largest of any quarter since 2002. The figures, released by the Equity Release Council, show that homeowners aged 55 and over withdrew on average £4.2m of housing wealth every day from April to June! But […]

By next year, the average household in the United Kingdom will have amassed over £10,000 in unsecured debt.

Lending to those at or in retirement has exceeded £1bn over the first nine months of this year, which is 34% ahead of last year. The average amount raised has also risen to a new peak of £67,000.

Traditional Mortgage Providers are reluctant to lend to those at or in retirement even if they have a good pension income and credit rating. Fortunately, a range of interest only mortgages is now available within the Equity Release sector that are suitable for people aged 55+.