Equity release numbers rise

Posted in General

4th May 2010

Over 77,000 (77,352) mortgages – including equity release – were approved in March this year, the British Bankers' Association (BBA) has revealed.

This figure is up from 73,500 (73,503) in February and a little under 76,000 (75,756) in March last year.

These numbers come a few days after SHIP, the equity release trade body, revealed that over £210m (£213.4m) was extracted from houses in the first three months of this year.


Brian Murphy of the Mortgage Advice Bureau commented that the rise is "roughly in line with seasonal expectations".

For anyone wanting to make the most of the value locked in their house, there are a number forms of equity release available, such as lifetime drawdown mortgages or home reversion plans.

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