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Equity Release Take Up Increasing
20/12/2010
The demand for equity release mortgages is increasing as a result of the combined effects of fewer providers in the market place and the growing acceptance of the product as a logical option for retirement income planning.
According to figures in the Financial Times, the value of the equity release market increased by 4 per cent in the third quarter this year, as more and more people look to release financial stress through switching assets into a lifelong income.
Equity release increased from £196.7m to £205m, in the second quarter, the largest quarter-on-quarter rise since 2008, with the average release rising by more than £1000, from £45,702 to £46,754 over the third quarter.
You must be at least 55-years-old and own your own main private residence, to qualify you to release money from your home to spend as you wish.
Homeowners aged over 55 years who are looking to increase their retirement income and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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