Peter Sharkey shares three reasons to choose equity release – North Norfolk News
It’s fair to say that equity release has, in the past, endured a pretty lousy press. Many older equity release plans, particularly those taken out in the 1980s, seem to offer poor value for money and are often loaded with punitive charges.
Today, however, a combination of Financial Conduct Authority (FCA) regulation and the Equity Release Council (ERC) setting high standards for the industry means that people looking to release equity from their homes are protected by a consumer safeguards.
Transparent regulation and monitoring has provided a timely boost to the equity release market – a fact immediately evident in ERC statistics which show that during the third quarter of 2022 homeowners unlocked more than 1.7 billion from their property, the highest-ever quarterly figure. This money has been used for a variety of purposes, from boosting retirement income, paying for home improvements and replacing interest-only mortgages.
As a new year dawns, we consider the three most popular…
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