Equity release activity up 24% year-on-year to £4.8bn

Record amounts of property wealth were accessed via equity release products in Q4 and across 2021 by more than 76,000 new and returning customers.  The figures showed the market has returned to growth for the first time since 2018 after demonstrating resilience during the initial stages of the pandemic, according to the council. Total lending to homeowners aged 55 and over via lifetime mortgages and home reversion plans grew by 24% year-on-year, compared with 31% lending growth across the wider mortgage market, according to the body. Average loan sizes also increased, partly influe...