Equity Release Reaches Record Level

Equity Release Reaches Record Level

Equity Release Reaches Record Level

Equity Release in the second quarter of 2015 reached its highest level since records began in 2002 according to a report in Mortgage Introducer.

The rise in lending, which surpassed a previous high of £375.4m in Q3 2014, was attributed to rising property values and new pensions freedom legislation that came into effect during April 2015.

10,000 Customers Take Out Equity Release Product

The first half of 2015 saw more than 10,000 customers use an equity release product, and the total value of the plans taken out was around £710m.