For immediate release – Friday 19th October 2018
Milestone £1bn Quarter As Equity Release Market Buoyed By Consumer Confidence
- £11m of property wealth withdrawn per day to support later life finances
- Total equity released reaches £1.02bn in Q3 2018, up £195m (24%) since Q3 2017
- Equity Release welcomed in Government response among home finance options to be signposted to older people by new Single Financial Guidance Body
- Average plan sizes remain broadly consistent demonstrating a modest approach to using property wealth
Homeowners aged 55 and over are releasing the equivalent of £11m every day from their homes, according to the latest quarterly lending figures¹ from the Equity Release Council (The Council).
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