Equity release reaches new high in second quarter

Between April and June 2017, over-55s withdrew a total of £701m from their homes - the highest figure in any single three-month period since the council began recording quarterly activity in 2002. It represents a 36% increase compared with the same period last year. Second-quarter lending activity has now risen 82% in the last two years - up from £384m in the corresponding period in 2015. The latest quartely figure also equates to almost 90% of all equity release activity recorded during the whole of 2011, when £789m was released from homes. There were 16,000 equity release customers ...