The Equity Release Council (ERC) has published its Q3 2021 market statistics, which found that homeowners are set to access more that £4bn of property wealth this year via equity release for the first time.
A total £3.46bn has been released so far in 2021, surpassing previous years, with Q3 lending up 19% year-on-year, according to the ERC. The pandemic slowdown has been followed by the gradual return of confidence, helped by the robust performance of the wider property market, said David Burrowes, chair of the ERC. The latest figures showed that over-55 homeowners unlocked £1.15bn of property wealth via equity release during Q3 2021, down 2% from Q2 (£1.17bn) but up 19% (£963m) compared with Q3 2020 as the UK emerged from the first wave of the pandemic. The statistics also revealed t...
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