UK homeowner equity reaches record £5.7 trillion, driven by rising house prices: Equity Release Council.
UK homeowner equity has reached a record £5.7 trillion, driven by rising house prices, as reported by the Equity Release Council. This figure surpasses the previous high from mid-2022. The UK’s total mortgage debt stands at £1.6 trillion, with a property market value of £7.3 trillion, yielding a loan-to-value ratio of 22.2%. The Council highlights the importance of utilizing property wealth to support the finances of older homeowners, urging governmental policy reconsideration.
September 04, 2024
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