Are more people utilising their homes to boost finances through equity release?
09 September 2010
The equity release market is in recovery as more people are confident enough to utilise some of the cash tied up in their property, it has been suggested.
This could encourage a number of people aged over 55 years to seek equity release advice in order to see how their home could boost their retirement funds.
David Wright, managing director of independent financial advisor Sixty Plus, said: "We are finding that the equity release market is starting to recover.
"It was perhaps natural that the relentless bad news of the credit crunch and banking crisis would make people pause for thought but I think things are gradually getting back to normal."
The comments follow the publication of Ship figures, which showed that the market remained stable in the second quarter of the year, with average advancements increasing from £45,251 to £45,702.
Homeowners aged over 55 years can find out how the value of their property could provide them with a tax-free cash injection by using Key' equity release calculator.
Posted by Tom Papworth