The amount of money that older homeowners cash in through equity release this year is forecast to be more than double that in 2015, according to anew nalysis. And the trend has accelerated further this year, despite equity release mortgage rates rising, with the rising cost of living cited as a major factor. If current trends persist, there could be as many as 54,000 lifetime mortgages sold in 2022 - nearly 10,000 more than in 2021. New equity release mortgages were up 26 per cent in the second quarter of this year, compared to the same time in 2021, according to separate Equity Release Council data. 'Similarly, equity release might be used to fund care costs when people think they have no other choice.

Source: Daily Mail September 08, 2022 14:37 UTC