Equity release sales rise over a fifth

It says the rise was driven by increased pressure on pensioner incomes and renewed confidence in house prices. The average age of people starting equity release also increased to 69 for the first half of this year from 67 during H1 last year. KRS says this reflected the need for retired homeowners to increase their income as they struggle on their existing pensions. In addition, growing confidence and increased levels of activity in the equity release market have encouraged more lenders to consider the sector. Total sales of equity release plans climbed 5% to an estimated 10,318 in...