As energy bills are rising 22% of homeowners are using mortgage advances to improve the efficiency of their homes to reduce costs.
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Category Archives: Equity Release Mortgage
Homeowners accessing cash from their properties increased 26% over the year with over £3 billion of equity release in the first six months.
London house prices have increased the most over the last 10 years with a significant rise in equity for homeowners.
Homes on the coast attract a premium and house prices are up 8% on the previous year as buyers seek to improve their quality of life.
Detached homes face the biggest energy costs due to lack of efficiency and in need of upgrades as we face a rise in the fuel energy cap.
The average value of detached homes has increased at twice the rate of smaller properties to £425,000 with a surge in buyer demand.
Cash accessed using equity release increased 24% last year as homeowners benefit from rising property value to meet living costs.
Equity release buyers will benefit from more choice as Standard Life is to enter the market and increase competition.
You pay a £36,116 premium to live in market towns during lockdown, up 8.4% for the year as people look to improve their lifestyle.
UK savings reached £200bn during lockdown and overpayments could reduce interest costs and clear your mortgage years earlier.