The Equity Release Council’s (ERC) recent data¹ for Q4 2024 highlights that there were over 15,000 active customers in the equity release market during the period, the highest recorded since Q3 2023.
With customers either agreeing new plans, taking drawdowns from existing plans or agreeing further advances (extensions) to existing plans, total lending in Q4 2024 reached £622m, a significant rise from the £525m recorded in Q4 the previous year.
The report highlights a 3.3% rise in UK house prices, which contributed to larger loan sizes for both drawdowns and lump sum mortgages. It also notes that product availability has improved over the last year.
The equity release market also saw a rise in returning customers using further advances, with a 27% increase in Q4, which, according to ERC Chair, David Burrowes, reflects “the confidence that home owners have in leveraging their property wealth responsibly.”
Confidence returns
Marking a third consecutive quarter of growth, the equity release market is showing clear signs of renewed consumer confidence, Burrowes commented “The equity release market has turned a corner and there is cause for optimism. Interest rates have started to settle and if the growth seen in 2024 continues to gain momentum, 2025 will see more customers considering the option to access their housing equity using an increasingly diverse range of innovative products.”
Speaking of customers making use of reserve facilities to manage borrowing efficiently over time, Burrowes said this demonstrates: “the versatility of equity release in addressing diverse financial goals, from home improvements to supplementing retirement income.”
As the equity release market continues to grow, more homeowners are exploring how property wealth can help support long-term financial goals.
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¹ERC, 2025
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Think carefully before securing other debts against your home. Equity released from your home will be secured against it.
It is important to take professional advice before making any decision relating to your personal finances. Information within this blog is based on our current understanding of taxation and can be subject to change in future.
It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.
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If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.
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