Despite the significant disruption in 2020 from Covid, the later life lending sector showed signs of resilience. According to figures released by the Equity Release Council:
• the overall number of people borrowing dropped in Q2 following near shut-down; however, there was a busy year-end as the market bounced back; and
• the amount being borrowed has remained stable for the past three years at £3.9bn, despite economic challenges.
In our latest research, we spoke to a number of specialist equity release brokers on our Citrine Research Adviser Exchange Sounding Board to canvass their views of the market, the outlook and what they believe is needed to help stimulate demand.