The total value of property wealth accessed has hit its highest level ever for a first quarter, figures from the Equity Release Council have revealed.
The first quarter of 2021, which the UK spent largely in lockdown, saw £1.14bn accessed by 16,527 homeowners over the age of 55. This latest figure represents a 7% rise year-on-year from £1.06bn in Q1 2020, according to the data released. Despite this, the Equity Release Council said Q1 was the quietest start to a year for total customers served since Q2 2017. In Q1 2021, 10,030 new plans were signed, down from 11,566 in Q4 2020. However, despite the Q1 record, the amount of money released dipped slightly quarter-on-quarter, down from £1.16bn in Q4 2020. The number of customers served...
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