Equity release clients go back to basics during lockdown - Canada Life

The provider said equity release client behaviour had changed as a result of the strict lockdown measures imposed to curb the coronavirus pandemic. It said requests for lifetime mortgages to pay for international travel were, unsurprisingly, down during Q1 and Q2 when lockdown measures were at their most severe. Holiday related requests were down 5% during the period. However, requests for loans to support day-to-day living grew by 5% to account for more than a fifth (22%) of equity release applications in Q2. It also reported marginal increases in applications by clients who said ...