Equity release sales flatline

The firm reported that sales in the first quarter of 2013 had reached 4,567, virtually flat compared to the same period last year when 4,508 equity release products were completed. The number of plans sold in each individual month was also flat. The South East continued to prove the most popular area for equity release with nearly 1,000 plans sold, compared to just 23 sales in Northern Ireland during the first quarter. The average loan size has jumped 27% in the past year with customers taking out an average loan of £56,710, 27% up on 2012's £44,519. Dean Mirfin (pictured), group d...