The amount of housing equity unlocked by the UK’s older homeowners jumped by 28 per cent to £5.2bn in 2022 according to figures obtained from the Financial Conduct Authority (FCA). It is a trend that many industry analysts predict will rise further due to an economic landscape which combines double-digit inflation and rising interest rates, which have increased the costs of borrowing.

The FCA also highlighted the difficulties being faced by borrowers of all kinds, with 10.9 million people struggling to meet bills and credit payments at the start of the year, up from 7.8 million in May 2022.

For many homeowners, releasing equity from their property is an ideal way of boosting a retirement pension pot, funding home improvements or paying for a trip of a lifetime, without having to downsize or make monthly payments on a more traditional bank loan.

But they are not suitable for everyone and it is essential to consult with an impartial Chartered Financial Planner, who are members of the Equity Release Council, to ensure compatibility and work though all financial considerations.

Here at The Financial Planning Group we have been advising our clients regarding the availability of newer, more flexible, methods of borrowing – by demystifying equity release and lifetime mortgage products – we can offer strategic benefits when considering Inheritance Tax exposure or in helping a family member on to the property ladder.

If you, or family member, would like to find out more information on this topic, please contact Steve Padgham now via e-mail at or by calling 020 8614 4782 and we can arrange a meeting at our office in the heart of Teddington.

Click Here To Call Us Now