Equity release up a third in 2007

The market monitor, compiled by Key Retirement Solutions (KRS), shows total demand for equity release products increased by 18% in the first six months of 2007, while the amount released grew by 33% compared with the first half of 2006. A total of £660m worth of equity was released between January and June 2007, compared with £500m in the same period of 2006, according to KRS. The research also shows drawdown facilities, which allow the consumer to drawdown equity in stages rather than a lump-sum lifetime mortgage, have seen demand grow by 225% in the past year and now account for 44% of ...