CML reveals modest equity release growth

The CML says lending in the final quarter was worth £282m, compared with £273m in the preceding three months. In the second half of the year, when the market is usually stronger, equity release lending was 13% higher than in the first six months at £556m, although it was 20% lower than in the second half of 2004. During the year as a whole, new equity release (or lifetime) lending was 12% lower than in 2004 at £1.05bn. The CML states the figures partly reflect slowing house price growth in 2005, which dampened enthusiasm for releasing equity, as well as consumer uncertainty about equity...