Value of Equity Release
September 15th, 2017
Someone using an equity release loan today, and borrowing the average £70,000 against the value of a £310,000 property, would save £70,000 over 20 years compared with the cost of the same loan five years ago, says the Telegraph. This is the result of interest rates falling from an average of 5.9 per cent in 2012 to 3.9 per cent today. One lender reckons that as much as £3 billion will be drawn by equity release loans – also known as ‘lifetime mortgages’ – in 2017, a huge increase over the past decade.
If you are considering looking into your options with Equity Release, please do not hesitate to contact Mike Hughes on 02380 222444 or email@example.com