• HOME
• ALL OFFERS
• NEWS
• BRAIN GYM
• UNDER 40?
• HOW IT WORKS
• ABOUT US

EDITOR'S PICKS

• Brochures
• Charities
• Fashion
• Finance
• Fun and Leisure
• Health & Beauty
• Holidays & Travel
• Home & Garden
• Savings
• Surveys
• Telecoms
• Utilities

NEWS

Pensions deficits 'the result of increased life expectancy'

Solar panels 'mean homeowners have everything to gain'

The Cayman Islands 'are more than just a tax haven'

Are credit cards worth it?

Are you willing to give up high heels for your health?

Home  »News  »Finance News

Equity release lending up 19% year-on-year

19/10/2009

Equity release lending increased in the third quarter, according to the latest figures from equity release trade body Safe Home Income Plans (SHIP). Despite a 2.5 per cent drop in the number of equity release plans taken out in quarter three compared to the previous three months, there was a 1.2 per cent quarterly increase in the total value released. Although the wider mortgage market has suffered a 63 per cent decline in lending during the last 12 months, the equity release market has seen a smaller decline of 22 per cent. Commenting on the data, Andrea Rozario, director general of SHIP, said that despite the challenges of the last year, the figures are encouraging and the equity release market is holding up well compared to the wider remortgage market. Ms Rozario added that she would like to see the government take a larger role in promoting equity release as one potential funding mechanism for retirement, saying: "SHIP urges the government to launch a review of equity release, and explore how it can take its appropriate place in the retirement planning sphere." SHIP was launched in 1991 and aims to protect customers, while also increasing awareness and education about how equity release works. Get a free equity release guide and find out how you can get additional income.

Related Finance News

• 10/08/2010  Pensions deficits 'the result of increased life expectancy'
• 06/08/2010  Are credit cards worth it?
• 03/08/2010  Don't be tempted to borrow money for your holiday, advises CCCS
• 28/07/2010  Shop around for best pension deals, advises Saga
• 26/07/2010  Mortgages 'to remain stable'
• 21/07/2010  It's not easy to 'find a competitive savings deal'
• 16/07/2010  Should the government do more to protect our savings from inflation?
• 23/06/2010  Budget 'better than expected'
• 30/04/2010  Forced retirement 'a waste of money'
• 21/04/2010  'Look through an equity release guide' when planning retirement
• 11/02/2010  New women's employment strategy launched
• 04/02/2010  Consumers 'not returning' to pre-credit crunch spending
• 26/01/2010  Changes to retirement age 'will help over 50s find employment'
• 22/01/2010  Unemployment increases among over 50s
• 15/01/2010  People 'turning' to equity release
• 17/12/2009  Fewer homes repossessed, research shows
• 16/12/2009  Know your consumer rights this Christmas, says Which?
• 07/12/2009  Employees nearing retirement 'happiest in their job'
• 25/11/2009  OFT 'not allowed' set bank charges
• 25/11/2009  Financial worries 'causing health problems'
• 18/11/2009  Over 50s 'face difficulties getting finance for new businesses'
• 16/11/2009  Government needs to consider equity funding, says SHIP
• 03/11/2009  Many will-holders not updating their wills
• 02/11/2009  People planning for old age 'should consider equity release', says ERSA
• 30/10/2009  House prices rise in UK
• 27/10/2009  Company urges pensioners to benefit from changes to pension credit rules
• 23/10/2009  Proposals to alter retirement age 'causing confusion'
• 06/10/2009  Isa limit for over-50s rises
• 14/09/2009  New ISA limits 'to save £63bn in tax'
• 11/09/2009  Home insurance claims drop
• 26/08/2009  Cyclists warned of bike theft risks
• 11/08/2009  Cost-cutting home insurance tips unveiled
• 04/08/2009  Retirees choosing equity release to help their children