Nearly 450,000 equity release plans have been agreed since records began in 1992, with growing numbers choosing to access their housing wealth gradually over time.
According to data from the Equity Release Council, the trade body for the equity release sector, the total number of new equity release customers since 1992 stands at 441,277. More than half of these, a total of 249,145 customers, have unlocked property wealth over the past decade.
Anyone considering equity release should seek professional financial advice first, as this type of scheme will not be right for everyone.
Frenkel Topping provides specialist independent financial advice focussed on asset protection for clients. The specialist independent financial adviser has a market leading position providing advice and fund management services for personal injury trusts and clinical negligence awards and is well placed to provide services to a wider customer base.