Equity release momentum continues

Equity release momentum continues

According to the latest data from Responsible Equity Release, the first two months of 2017 have seen a 70% rise in new equity release plans compared to the same period in 2016, with 52% more homeowners releasing equity from their homes.

The average amount of equity released by homeowners has also increased, at just over £70,000 in the first two months of 2017, compared to £63,197 during the same period in 2016 – an 11% increase.

Regional figures reveal that Yorkshire homeowners have taken more than five times more equity (444%) out of their properties in 2017 so far, compared to last year. While homeowners in the East of England have released 250% more equity since the start of the year compared to the same period in 2016.


Average loan sizes have also increased the most in Yorkshire, with an average of £75,451, compared to £49,792 for the same period in 2016.

Steve Wilkie, managing director at Responsible Equity Release, commented: "The momentum from last year has continued into this year. Equity release is increasingly being seen as an important financial product for thousands of people with different needs; from pensioners wanting to supplement their retirement income, to grandparents wanting to help out their children at a time when a boost of funds can make the biggest difference.

As long as the equity release industry doesn’t rest on its laurels and continues to innovate to meet the changing demands of the customer, who wants more choice and flexibility, we could see 2017 eclipse last year’s impressive growth.”

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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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