Mortgage rise boost for equity release

Posted in General

6th May 2010

Mortgage brokers expect to conduct more business over the next three months, which is good news for those considering an equity release scheme.

According to Paragon Mortgages' Financial Adviser Confidence Tracker, the number of people wanting a mortgage is expected to rise by nearly 7 per cent (6.7 per cent) by the end of June.

Paragon's John Heron commented that the figures show that mortgage brokers are starting to have more confidence, resulting in "increased activity" in the housing market.

With a greater demand for housing, prices look set to increase too, which would mean that homeowners who release equity from their property could end up with more money.

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