People are increasingly using equity release to pay for items such as holidays pointing to a wider trend of releasing property wealth to secure a comfortable retirement, a provider has said.
Retirement Advantage said in the first half of the year 18% of its equity release clients said they intended to use some of their equity release loan to pay for a holiday. This was up four percentage points on the same period last year. Over the same period, statistics from the Equity Release Council showed there were 11,846 new equity release customers nationwide. The firm said if its experience applied across the country it would mean 2,132 people had taken a break using cash released from their homes. The figures revealed the diverse reasons for releasing property wealth and re-emp...
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