£570m of equity release lending in Q3 highest on record

Up 26% year-on-year

Victoria McKeever
clock • 2 min read

Equity release lending hit £571.6m in the third quarter of this year - the highest quarterly value on record - according to figures from the Equity Release Council (ERC).

The figure, which is up 26% on the same period last year, took total equity release lending in the first nine months of 2016 to £1.48bn and led commentators to speculate the market could hit £2bn by the end of the year. ERC chairman Nigel Waterson (pictured) said the fall in equity release interest rates to well below any other mortgage product in the first half of the year had made the idea more appealing to homeowners. Waterson attributed the fall in rates to increased competition within the equity release market. He added: "The range of features now available gives people the optio...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Divorce, pensions and professional collaboration in the HNW world

Divorce, pensions and professional collaboration in the HNW world

'Beware the attraction of the simple solution'

Richard Kershaw
clock 16 February 2026 • 3 min read
A century of the state pension – and why the next redesign is overdue

A century of the state pension – and why the next redesign is overdue

'A pension promise only works if contributors believe it is fair and durable'

Adam Cole
clock 16 February 2026 • 4 min read
Pensions: The overlooked asset in divorce settlements?

Pensions: The overlooked asset in divorce settlements?

Practical steps to narrow the divorce pension gap

Alistair Myles
clock 11 February 2026 • 5 min read