The equity release sector has seen another record-breaking quarter, according to figures from the Equity Release Council, with total lending in the third quarter of 2017 surpassing £800m for the first time.
Between July and September, over-55s withdrew a total of £824m of property wealth from their homes through equity release plans, surpassing the £701m recorded in the second quarter of this year and making it the highest figure seen in any quarter since the council began tracking quarterly activity in 2002. The total represents a 44% year-on-year increase on the same period last year when lending stood at £572m, and an 82% increase on the £453m of the third quarter of 2015. There were 17,982 equity release customers between July and September, up 12% on the second quarter of 2017. Of t...
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