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Might Equity Release Become More Attractive After House Price Increase

24/06/2010
Right Equity Release
Building society Nationwide said house prices in the UK increased by 0.5% last month, making the average UK home now worth £169,162, up from £167,802 in April.

This might persuade some homeowners to consider raising a tax-free cash payment from the increased value of their property through an equity release plan.

Nationwide’s chief economist, Martin Gahbauer said: "Since reaching a trough in February 2009 – following a drop of 19.3 % from their October 2007 peak – house prices have risen by 12.2 % and are now just 9.5 per cent below the October 2007 peak."

Homeowners aged over 55 years who would like to know how much money the value of their property could release can find out by contacting therightequityrelease.co.uk for equity release advice.

 
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