House prices up value of equity release

The equity release market has received another boost after another banking group has announced that house prices are on the up.

Lloyds have revealed that May saw an annual house price rise of nearly 7 per cent (6.9 per cent), meaning the average property costs in excess of £167,000 (£167,570).

Homeowners who want to release equity from their house could now see how much more they would get using an equity release calculator.

This comes after the Nationwide announced similarly positive house price figures.

The building society also announced that prices have risen for 12 out of the last 13 months, and they expect that trend to continue, which is a further boost for the equity release market.

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