Equity release now topping £10 million a day

equity release tops £10 million a day

The boom in equity release is now topping £10 million a day across the UK. Figures from the Equity Release Council show that the amount of housing wealth being withdrawn has more than doubled in just two years.  In 2016 the daily figure was just £4.2 million a day.

Mortgages most affordable in a decade

Mortgages most affordable in a decade

Mortgages are now at their most affordable in a decade according to the Halifax House Price Index, but it’s not all good news Typical mortgage payments now account for just 29% of homeowners’ disposable income compared to 48% in 2007. Annual house price growth is at 2.7% with a 1.5% increase in March.

Interest rate rises delayed?

Interest rate rise postponed

A slow-down in the UK housing market may make the Bank Of England think twice about raising interest rates claims a top economist. Following earlier hints, there has been wide speculation that the Bank’s Monetary Policy Committee (MPC) will raise the rate above its current 0.5% level in May.