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London,
30
October
2017
|
23:00
Europe/London

Retirement Advantage responds to Equity Release Council Q3 lending statistics

Retirement Advantage has welcomed the announcement by Equity Release Council that equity release lending passed £800m for the first time in Q3 2017, up 44% year-on-year.

Alice Watson, Head of Marketing at Retirement Advantage Equity Release, said:

“The continued increase in the popularity of equity release is further proof that people are adopting a holistic approach to retirement planning. We know that for many over 55s their property wealth is greater than their pension savings, and equity release can help them boost income and have a more fulfilling retirement.

“These figures also pay testament to the innovation the equity release market is currently witnessing. The Equity Release Council has cited the growing range of products on the market as a driver of recent growth. Pioneering products, such as the Buy to Let range launched by Retirement Advantage in August, will continue to expand the potential pool of property wealth that can be tapped into.

“However, while these figures represent further good news, it is vital that the equity release industry does not take its foot off the gas and continues to innovate if it is to carry on growing.”