Almost 100 retired homeowners took out equity release plans per day in the first half of 2017 according to Key Retirement

July 28, 2017

Retired homeowners cashed in £1.25 billion of property wealth in the first half of 2017 at a rate of £6.9 million a day, according to new analysis from leading over-55s finance specialist Key Retirement.

The new record high for the equity release market means more property wealth was released in the first half of 2017 than all of 2013 when the market was worth £1 billion, underlining how important housing equity is to enhancing the standard of living in retirement.

Dean Mirfin, technical director at Key Retirement, said:  “With nearly 100 retired homeowners a day releasing an average of over £70,000 each, the equity release market is making a major contribution to retirement standard of living.

“More property wealth was generated for pensioners in the first six months of this year than all of 2013, demonstrating how rapidly the market is expanding as record low rates drive more competition to the benefit of customers.

“The amount of money being released means that customers can afford to help themselves and families while also sorting out issues such as interest-only mortgage repayments and debts.”

Read the Key Retirement UK Equity Release Market Monitor report HY 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Property compliance experts urge landlords not to ignore major tenancy changes under Renters’ Rights Act

Beresfords property group highlights key actions landlords must take as new tenancy rules, enforcement powers and energy standards approach. UK landlords are being warned not to overlook major changes to tenancy agreements and compliance requirements, as the Government moves closer to implementing the Renters’ Rights Act 2025. Following the publication of draft secondary legislation, the…
Read More →
Breaking News

Nationwide becoming first lender to allow mortgage deeds to be signed digitally

Mary-Lou Press, President of NAEA Propertymark (National Association of Estate Agents), comments: “The conveyancing process remains one of the most common sources of frustration for buyers and sellers, with more than 30 per cent of housing transactions taking over 17 weeks to complete on average. These prolonged timescales only serve to increase pressure and uncertainty…
Read More →
Breaking News

Fruitful year ahead for aspiring first-time buyers

First-time buyers and those with little equity to refinance will find greater mortgage choice. During January, there was an uplift in higher LTV deals, with 90% LTV options at a record-high, plus a boost to 95% LTV deals, which are at their highest count since March 2008. The electronic monitoring of LTV choice at Moneyfacts…
Read More →
Breaking News

Lovelocked London homebuyers face romance premium

The latest research by London lettings and estate agent, Benham and Reeves, reveals that lovelocked London homebuyers house hunting across the capital’s most romantic locations can expect to pay house premiums of more than 64%. But couples can still find great value if they know where to look. Benham and Reeves has identified nine of…
Read More →
Breaking News

First-time buyers face highest hurdle in England

The latest research from Yopa has found that while first-time buyers in England continue to face the highest cost of getting a foot on the property ladder, at £27,807, it’s their Scottish counterparts who have seen this cost rise by the largest margin over the last year, increasing by 5.5%. Yopa analysed* the current cost…
Read More →
Breaking News

Rental price and average salary tracker – January 2026

Seasonal cooling deepens regional rent declines, while affordability pressures remain structurally high Month-on-month rental prices fell across the majority of regions, with particularly pronounced drops in the North East (−10.0%), South West (−8.1%), Yorkshire and Humberside (−7.4%), and Wales (−6.1%), highlighting a clear seasonal slowdown as demand softens post-Christmas. Year-on-year salary requirements show only modest…
Read More →