Equity Release
Interest in equity release doubles
The percentage of people considering using their home as a retirement asset through equity release rose from 20% to 38% over the past 12 months, according to the Equity Release Solicitor’s Alliance (ERSA).
The survey of 4,521 UK adults also revealed that the overall proportion of people with a positive or neutral perception of equity release rose by 6% to almost two-thirds (63%.)
In addition, there was a significant drop in those saying they will not use it, down to 27% from 43%.
ERSA chairman Claire Barker said:
“Both awareness and demand have grown significantly in the past year as public sector cuts, inflation and financial obligations have encouraged retirees to seek alternative sources of capital.”