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Equity release becoming a popular choice for borrowers
08/11/2011
The amount of equity release plans sold during quarter 3 totalled 5,791 which was a 3.8% increase from the same quarter last year.
This shows that equity release is becoming a more popular choice when it comes to borrowing and it’s not surprising. Equity release plans such as the drawdown lifetime are aimed at homeowners aged 55 and over and enable them to release funds from their property that would otherwise be tied up.
It has been revealed that the main purposes that customers have been borrowing the money for is to pay for that dream holiday or to pay off existing debts but you could also use it to top up your income or pension, complete house repairs or anything you want to spend it on.
To find out more about how equity release plans can help you contact the right equity release to get expert advice tailored to you.
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