October 31, 2018
How over-55s are cashing in £11million a day from their house value in ‘equity release’ to boost finances in later life
Homeowners aged 55 and over raised a record £1billion through equity release between July and September – £11million a day, figures show. The quarterly figure is up 24 per cent on a year ago. The money was ‘withdrawn’ from the value of homes to pay for items such as care, home improvements and helping children get on the property ladder.