Equity release customers took average £125k from their home in 2021

Standard option to make voluntary penalty-free partial repayments

clock • 3 min read
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
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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...

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