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

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...