There was £1.06bn of equity release activity in Q1 before lockdown took effect, data from the Equity Release Council shows.
Newly released research from Key has revealed that around 30% of people who are due to finish full-time work in 2020 are planning to use their property wealth to help boost their retirement income.
The Equity Release Council, the representative trade body for the UK equity release sector, has today launched its updated industry standards.
The equity release market increased by 8% in the third quarter of 2019 in the UK as older home owners unlocked almost £11 million of property wealth per day.
More than two in five new equity release plans are taken out on a single basis to support retirement finances at a time when the number of over 65s living along is rising, new research shows.
The majority of financial advisers, some 61%, believe that equity release will be regarded as a mainstream part of housing market finance within the next decade.
Almost a quarter, some 24%, of unretired people would rather unlock equity from their property than use their pension pot to pay for care costs in later life, new research suggests.
Up to half of older home owners are using equity release to repay debt as they struggle to meet payments, a new analysis has found.
A total of £1.85 billion in housing wealth was unlocked in the first six months of 2019, in line with the same period last year but a two speed equity release market has emerged, the latest figures show.
Growth in the equity release market in the UK has slowed with the volume and value of equity released showing relatively modest growth in the first half of 2019, according to the latest figures to be published.
Equity release is becoming increasingly important for home owners and their retirement finances as new figures show many use it for everyday money matters.
Retired home owners in the UK are using their housing wealth to clear debts to strengthen their finances, new equity release market figures relating to the first quarter of 2019 suggest.
It may actually make more financial sense for older people to rent rather than withdraw equity from their properties, according to Girlings Retirement Rentals.
The equity release market in the UK has recorded its busiest start to any year on record in 2019, according to the latest quarterly market figures.
The Equity Release Council has announced a range of initiatives at its Annual General Meeting to help firms deliver a high standard of support for home owners looking at equity release and later life financial planning.
The importance of unlocking housing wealth to meet consumer needs in later life and continuing product innovation are ensuring equity release occupies an increasingly central role in the UK, a new report shows.
Some £136 of housing wealth was unlocked every second between October and December in the UK, as the equity release market continued its strong growth, new figures show.
Retired home owners released £3.6 billion in new property wealth in the UK last year as the market doubled in size in just three years, new data shows.
More home owners seeking advice about property wealth and what they can do to access it means that membership of the Equity Release Council has passed 300 for the first time.
UK Asset Resolution (UKAR), the holding company for Bradford & Bingley and Northern Rock, has sold a portfolio of equity release loans to Rothesay Life for £860m.
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