Equity release products increase in demand.
Equity release has increased by almost a quarter in 12 months.
The Equity Release Council has revealed that recent figures show a significant increase in demand for equity release products in the last year.
The number of home-owners signing up for equity release has risen by 22%.
In Q2 of this year advances were just under £225 million which a large increase on the figure of £184.8 million for Q2 of last year.
Equity release is today often used to supplement poor retirement funds to cover the increasing cost of living
Many home-owners are opting for drawdown products instead of lump sum plans to strategically release equity in their property to cover expenses.
The Equity Release Council has announced that it is to strengthen its standards board with new appointments and safeguards designed to protect consumers.
Before making any decision regarding equity release it is vital to seek impartial and professional advice to check which type of product best suits your circumstances.
Deal Direct are a 'whole of market' broker who will search the market on your behalf to find the right product to suit your financial needs.
Contact one of our advisers for independent advice and a free quote.
