Property News · January 25, 2016

Equity release levels hit record high among over-55s


More than 22,500 deals were agreed in 2015, showing a growing reliance on housing wealth as a key pillar of later-life financial planning A record amount of housing wealth was unlocked by homeowners aged 55 and over in 2015, with £1.61bn withdrawn through specialist equity release plans.Lending was up by 16% on the previous year’s figure, the Equity Release Council said, as homeowners used lifetime mortgages and reversion plans to access cash from their homes. Continue reading…

Source : theguardian.com
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