The number of homeowners are releasing equity from their homes has doubled for many UK regions in the last five years.
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Category Archives: 55 plus mortgages
Changes to mortgage affordability rules by the regulator would allow homeowners to switch to cheaper deals.
The number of residential mortgages for older homeowners has increased as lenders relax maximum ages to 80 years and over.
Homeowners use equity release to access almost £4 billion of wealth from their homes up for the seventh consecutive year.
Buoyant market for homeowners sees £11m of equity released each day from property and a record £1bn in the third quarter.
Greater product flexibility is driving rapid growth in homeowner demand for equity release with 120% more lending in the last two years.
There are some 3.9 million people across the country plan to release equity from their property to fund their lifestyle when they retire.
Thousands of mortgage prisoners caught paying high interest rates due to affordability rules could be given more help from lenders.
In the first quarter of 2018 housing wealth accessed using equity release has doubled in only two years with nearly £10 million a day.
Annual growth of equity release lending has reached a 15 year high as homeowners access wealth from their property.