New lending in the equity release sector totalled \u00a31.5bn in the third quarter of 2022, which is a new record. This rose from a total of \u00a31.05bn last year, as the average borrower released \u00a3114,354 from their property during this quarter.<\/p>\n
Borrowers in London unlocked the most wealth at an average of \u00a3261,946 per household. Equity released by homeowners in the South East, South West and West Midlands exceeded \u00a3100,000 respectively.<\/p>\n
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.\u00a0<\/span><\/p>\n Here at The Financial Planning Group we have been advising our clients regarding the availability of newer, more flexible, methods of borrowing \u2013 by demystifying equity release and\u00a0lifetime mortgage products \u2013 we can offer strategic benefits when considering Inheritance Tax exposure or in helping a family member on to the property ladder.\u00a0<\/span><\/p>\n
New lending in the equity release sector totalled \u00a31.5bn in the third quarter of 2022, which is a new record. This rose from a total of \u00a31.05bn last year, as the average borrower released \u00a3114,354 from their property during this quarter. Borrowers in London unlocked the most wealth at an average of \u00a3261,946 per household. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2964","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n