Potential £375bn available through equity release from UK property
The third quarter of 2017 saw a £2bn increase in the potential amount of wealth available to over-55s through equity release, research from Retirement Advantage research reveals.
The increase to £375bn represents a 2.7% year-on-year increase driven by strong house price growth over the last year in the East Midlands, South West and the West Midlands.
Alice Watson (pictured), head of marketing at Retirement Advantage Equity Release, said: “While the slight decline in London house prices may raise some anxieties around the stability of the housing market, particularly at a time of uncertainty around Brexit negotiations, it is crucial to remember that it comes after a long period of significant growth in house prices.
“As a result, there is substantial wealth available in equity that will likely remain robust, even if prices start to dip or we see a rise in interest rates in the coming months.”