The equity release market has seen record growth yet again in the first quarter of 2005, figures reveal.
The UK Equity Release Monitor from Key Retirement Solutions(KRS), shows the number of equity release plans taken out increased by around 32% on the first quarter of 2004 at 7958. While the value of equity release plans was £376m up nearly 39% on the same quarter last year. This continued the record growth trend apparent at the end of 2004 when both the third and final quarter boasted more than £370m worth of equity release plans sold, says KRS. The lender says the key reason for this increase is the new levels of confidence inspired by recent mortgage regulation, as well as the incre...
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