Equity release volumes fall 16%

Average equity released by homeowners has increased, which KRS says is a result of retirees looking to access extra cash before property values fall further. Overall, 18,910 equity release plans have been taken out since the beginning of 2008, down 16% compared with the same period a year ago. KRS says the market has improved slightly from earlier in the year, with third quarter volumes down just 10% compared with the third quarter of 2007. Total equity release values have also fallen, albeit by a smaller amount, down 7.5% compared with last year at £340m. Dean Mirfin, business developm...