Image:
Low interest rates by historic standards and increasing product flexibilities mean customers can access potentially life-changing sums with more ways of managing the overall cost of borrowing in later life, the ERC said
The average equity release customer drew the equivalent of more than seven years of retirement income from their home in 2021 as UK property wealth reached a record £5.2 trillion, according to the Equity Release Council’s (ERC) latest report.
The equity release market saw customers withdraw £125,000 on average as a single lump sum or via incremental ‘drawdowns', ERC found in its report. That figure is equivalent to more than seven years...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
