Equity release sales up 4%

This is the largest quarter-on-quarter increase since before the credit crisis. Over the third quarter, intermediaries gained 1% of the market and sold 82% of equity release products, whilst direct sales teams sold 18%. The average release increase by over £1,000, from £45,702 to £46,754 since the second quarter. Drawdown mortgage sales maintained their substantial share of the market, accounting for 57% of equity release sales, whilst lump sum product sales came second at 41%. The figures represent a reversal of trends in Q3 2008, when lump sum products accounted for 56% of sal...