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Homeowners took out 13,452 new equity release plans in the third quarter with total lending topping a record £1.7bn, according to the Equity Release Council. The body says this type of loan, among property owners aged 55 or over, topped 13,000 for the first time, coming in 8% higher than the previous quarter. It
Rising house prices have pushed the overall valuation of the UK housing stock to a record £7 trillion, according to the Equity Release Council. The later life lending body says the country’s stock of homes hit that level after annual house price gains hit 12.8% in May as “strong demand” continues to boost prices. It
Chancellor of the Exchequer Kwasi Kwarteng has confirmed a stamp duty cut, effective from today (23 September), in a bid to boost movement in the housing market.
Canada Life has found that in the first half of 2022 19.6% of equity release plans taken out were for day-to- day living costs, up from 18.2 per cent in 2019 before the pandemic.
Advisers face challenges in identifying vulnerability. One is that clients may not realise their circumstances are a source of vulnerability and, even if they do, they may not volunteer that information.