Price confidence good for equity release

Posted in Equity Release Property News

7th July 2010

Nearly eight in ten (78 per cent) homeowners believe that house prices will rise over the next six months, which will be a boost for those looking into equity release.

The higher that house prices get, the more money can be extracted from a person's home via a lifetime mortgage or a drawdown lifetime mortgage.

The research, from property website Zoopla.co.uk, also reveals that on average, homeowners expect to see a healthy rise of 5.5 per cent before the start of 2011.

People are most optimistic in Scotland, where 84 per cent of respondents expected to see further upwards momentum in the housing market.

One in five (21 per cent) people admitted to being worried about public sector job losses, so having equity release plans could prove useful for them.

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