Thank you very much everyone for voting for us as Best Equity Release Adviser in the Equity Release Awards! Your support has been invaluable to getting us nominated for several prestigious awards this year. It is much appreciated by all of us at Bower.
The equity release sector has rebounded strongly in the third quarter according to the latest figures released by Safe Home Income Plans (“SHIP”) which show that new advances were 12% up on the previous quarter.
The growth in the market reflects the fact that many ageing and elderly homeowners are feeling the pinch. It is becoming apparent that many of them will be looking to rely upon equity release for supplementing their pensions at a time when savings are depleting due to the low level of interest rates, and the cost of living continues to rise.
Equity release is also becoming commonly used as a method of repaying interest only mortgages when they reach their redemption date.
There is however welcome news to those at or in retirement this Christmastime. The funding for equity release is plentiful and there is also the possibility of enhancing the sum released in cases of poor health or lifestyle.