The later-life lending sector is growing significantly, with people using it for many different reasons.
Figures from the Equity Release Council revealed that in Q2 2022 £1.6bn of property wealth was withdrawn, which includes 12,485 new equity release plans, equivalent to 205 plans being agreed each working day. In contrast, the sector saw 8,454 new equity release plans agreed in Q2 2017, demonstrating strong growth over the past 5 years.
People are looking towards Equity Release for many different reasons, such as to help family members, fund home improvements, fund care in the home, to help with everyday living costs or to simply receive a lump sum to help enjoy retirement.
To find out if Equity Release is right for you and how it could support you and your family, please get in touch.