Equity release: Gathering momentum?

Equity release has been gathering momentum as figures from the Equity Release Council for the third quarter of 2013 have shown. According to the results, the total value of equity release plans agreed in the third quarter of 2013 reached £284.1m. It has increased by 14% year-on-year and is up 15% compared to the previous quarter, representing "the greatest quarterly jump seen since 2004 (Q2-Q3 - 30.15% increase) and the biggest single quarter since Q3 2008". The average amount released by customers has also reached its highest level at £57,107. The Council said this "amount is the ...