Homeowners took out 13,452 new equity release plans in the third quarter with total lending topping a record £1.7bn, according to the Equity Release Council. The body says this type of loan, among property owners aged 55 or over, topped 13,000 for the first time, coming in 8% higher than the previous quarter. It
The Equity Release Council (ERC) has appointed two independent non-executive directors Barry Meeks and Mike Hughes to join its leadership team. Meeks and Hughes will work alongside the ERC executive and member firms to ensure responsible stewardship of its consumer standards and shape its strategic plans. Meeks has
Rising house prices have pushed the overall valuation of the UK housing stock to a record £7 trillion, according to the Equity Release Council. The later life lending body says the country’s stock of homes hit that level after annual house price gains hit 12.8% in May as “strong demand” continues to boost prices. It
Homeowners over the age of 55 took out 12,485 new equity release plans in the three months to the end of June, equivalent to 205 new plans being agreed each working day.