The equity release sector enjoyed its busiest start to any year on record over the first three months of 2019, according to the latest quarterly figures from the Equity Release Council.
More than £936m of property wealth was unlocked by more than 20,000 customers in the first quarter of this year as almost 11,000 people agreed new plans. The total amount of customers served in the period increased 10% year-on-year, while total equity released was up by 8%. From January 2019 to March 2019, the average amounts of property wealth being withdrawn by new customers remained steady year-on-year. This indicated a stable market, the Equity Release Council suggested, with expansion being driven by an increase in customers drawing on their housing wealth, instead of a rise in i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
