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10,000+ released equity in 2012

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More than 10,000 older homeowners freed up some of the cash tied up in their properties via equity release schemes last year.

Figures from the Equity Release Council reveal that this was the strongest performance in the equity release market since 2009.

Tim Loy, chief executive of equity release specialist provider Age Partnership, said:

“I’m delighted that more and more people are starting to see how equity release can make a real difference to their quality of life in retirement. “With the cost of living on the increase and the current state of personal pensions, you can see how lots of people in the UK are struggling to maintain their lifestyles in retirement.

“We have invested heavily in our colleagues to provide an excellent service, and I’m delighted that this has been recognised with the highest possible accolade from Investor in Customers.”

Simon Chalk, technical manager, equity release, added:

“The Equity Release Council figures for 2012 are most encouraging and the early signs are that 2013 will be better still. With leading specialist advisers like Age Partnership attaining Investors In Customer status, and with fantastic offers from Lifetime Mortgage lenders, we are proving that past difficulties in equity release are consigned to history and that the customer is at the centre of everything we do.”

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