The appeal of using property wealth as an extra source of retirement income continues to grow, according to figures indicating record amounts of equity release lending.
Lending in the second quarter of 2015 - at £384.3m - was the largest of any quarter since 2002, the Equity Release Council (ERC) reported. It said the period attracted more than 5,400 new equity release customers, up 11% from the previous quarter, adding its records show homeowners aged 55 and above are withdrawing more than £4m of housing wealth every day. New plans taken out in the first half of this year topped £710m, the largest H1 on record, the ERC added. Experts suggested a "perfect storm" of rising house prices, tougher borrowing conditions and a lack of pension provision h...
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