Equity release mortgage boost

Posted in General

18th May 2010

March saw a huge leap in the amount of people taking out a mortgage, which is excellent news for people looking into equity release schemes.

This means that house prices will increase, leading to people wanting to release equity from their home being able to extract more value.

The figures from the Council of Mortgage Lenders (CML) show that March saw 45,000 loans taken out for house purchases. This was 25 per cent more than February and 45 per cent more than March last year.

In order to keep the housing and equity release markets strong, Michael Coogan from the CML has urged the new government to tackle lending issues that were caused by the recession.

The views expressed in these videos are those of ReelContent alone. They may not represent the views or opinions of Age Partnership or its staff. RealContent acts in a journalistic capacity and is not authorised to give advice under the Financial Services and Markets Act 2000. The information contained in this video is intended for information and interest only, and not to either provide advice to, or to address the particular requirements of any individual.