Contact Us


01924 792182

Call Craig Today

Mon - Fri: 9:00 - 17:00

Lifetime Mortgage Industry Specialist Of 20 Years

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on whatsapp
Share on facebook

The Equity Release Market Is Still Recovering After COVID 19.


According to the Equity Release Council, the equity release market has shown signs of recovery following the coronavirus pandemic, but numbers are still lower than in previous years.

Older homeowners withdrew £698m of property wealth in quarter two this year. The figure in quarter one was £1.065 billion this was almost £400m (34%) more than quarter one.

These consequences of COVID 19 are not surprising, this is the case in point when looking at the wider economy such as data supplied from the Bank Of England. 

This data indicated that the gross amount of lending was down by as much as 36% from February and March.

We have found that May was the quietest month for new plans before initial signs of recovery followed in June as lockdown conditions began to ease and physical valuations became possible again.

The Equity Release Council also saw that customers held back from making further drawdowns from existing plans or seeking further advances as they waited to see the long-term impact of Covid-19.

David Burrowes, Chairman of the Equity Release Council, comments:

“Equity release market activity continued to mirror wider economic conditions, with the confidence of early 2020 giving way to caution as households assess the impact of coronavirus on everyday life.

“Careful precautions have kept the market open to those who wish to choose the option of equity release and ensured customers have access to property wealth to help meet important financial and social needs. That said, the fall in the number of new plans and fewer returning customers accessing extra funds are clear signs of people pausing to see how the wider situation unfolds.

“Property assets have long been one of the nation’s main sources of wealth and are likely to play an increasingly important role to support people when addressing the challenges facing many in later life, including bridging the savings gap for older homeowners who are asset rich but cash poor. Releasing equity is not a suitable choice for everyone, and our focus is on ensuring customers’ interests are protected at every stage of the process through structured financial advice, independent legal advice and clear product safeguards.”

More Articles

Download Your FREE Equity Release Top Tips Guide

5 Top Tips About equity release ebook


Equity Release Calculator

How much tax free cash could you release from your home?

erg logo v small


Equity Release Guru
Suite 6, West Court Offices
Park Lane
Allerton Bywater

Registered Office:
Unit 8, ABC Killinghall Stone Quarry, Ripon Road, Harrogate, HG3 2BA. Registered in England & Wales. Company number 7162252.

Head Office:
Units 11-21, Mills Bakery, Royal William Yard, Plymouth, PL1 3GE, UK

Consumer Credit Licence:

Data Protection Registration Number:

In using this website I give express consent to the Responsible Life Ltd to call me on the number provided from time to time.

 Calls may be recorded for training and quality purposes.

Contact Us

Equity Release Guru is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register \( under reference 610205.

In using this website I give express consent to Equity Release Guru to call me on the number provided from time to time. Calls may be recorded for training and quality purposes.

This is a Lifetime mortgage which may reduce the value of your estate and may affect your entitlement to state benefits. To understand the features and risks ask for a Personalised illustration.

Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind. Inheritance Tax planning is not regulated by the FCA. Think carefully before securing other debts against your home. By consolidating your debts into a mortgage you may be required to pay more over the entire term than you would with your existing debt.

Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,295. Our adviser will talk through the setting up costs of a lifetime mortgage before you make any decision to proceed.

© All rights reserved

Made by Si Hearn

Call Now Button

Get Your free 5 top tips equity release guide.

Just fill in your details and get your ebook Today