Homeowners release more than £1bn of equity

Homeowners released more than £1.07bn in equity in the year to April, according to Key Equity Release. The retirement lender's market study revealed that older homeowners are releasing an average of more than £100,000 from their properties, in what is being termed a “middle-class stampede” towards equity release. Research found that homeowners were able to access triple-figure cash pots when taking out equity release deals. Key Equity Release's data suggests that, in the first three months of this year, the average homeowner who took out an equity release plan received £103,710 - 25% more than the £83,000 released in the first quarter of 2020.

Daily Express (25/05/2021) Daily Mail (25/05/2022)