Latest figures from the Equity Release Council show that the number of people aged 55 and over using equity release is rising again in the UK. Equity release allows homeowners to access money tied up in their property while continuing to live there or draw income later, typically through products such as lifetime mortgages or home reversion plans. According to the reported data, the average amount borrowed by those taking out equity release is £113,779. The outlets also describe the trend as a return to growth after a period of lower usage, indicating renewed demand among older homeowners looking for additional funds in retirement. The reports focus on the headline increase in participation and the average borrowing figure cited from the council’s statistics, without attributing the change to specific causes. Overall, the coverage presents the council’s figures as evidence that uptake among over-55s is strengthening once more.
More people over 55 use equity release, borrowing about £113,779 on average
Latest figures from the Equity Release Council show that the number of people aged 55 and over using equity release is rising again in the UK. Equity release allows homeowners to access money tied up...
- The Equity Release Council reports an increase in equity release usage among people aged 55 and over.
- The number of older homeowners using equity release is described as rising again.
- The average amount borrowed is reported as £113,779.
- The coverage is based on the Equity Release Council’s latest statistics.
- Reports describe the trend in terms of renewed demand for retirement-related borrowing.
The number of Britons using equity release is back on the rise, according to the latest figures from the Equity Release Council.
4 hours agoThe number of Britons using equity release is back on the rise, according to the latest figures from the Equity Release Council.
4 hours ago
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