By the end of 2019, later life lending is expected to reach £295 billion and to rise to £548 billion by 2029, an increase of 85% over the decade.
Rapid growth area
This type of lending is growing rapidly due to factors such as rising house prices, buying property later in life, an ageing population and an increased acceptance of using unsecured debts in retirement.
Ongoing debt takes its toll
More of us are now entering retirement on fixed incomes, with ongoing debts to pay – please get in touch to see how Equity Release could help you with unexpected expenses or to enhance your retirement years.
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home.
Equity release is not right for everyone and may reduce the value of your estate