Scots Homeowners See Property Wealth Soar


Retired homeowners in Scotland are reaping the rewards of paying off their mortgages as they benefit from record levels of soaring property wealth.

Scots over-65 homeowners saw the average change in value of their property grow by more than £12,000 (which represents a combined Scotland-wide total of £3.4 Billion) in the period May-August– with only London (£17,000) and East Anglia (£12,800) recording higher growth figures in the UK.

The estimated property equity in homes owned outright by people aged 65+ in Scotland now stands at more than £42 Billion. And there are 282,000 homes in Scotland owned outright by people aged 65+.

Across the UK, over-65 homeowners’ property wealth hit a new record of £1.101 trillion – a jump of £47 Billion over the May-August period, according to the Key Retirement Pensioner Property Equity Index*.

The surge in property wealth is linked to the continued strength of the housing market in Scotland – and is underlining the value of equity release as a tool to boost standard of living in retirement.

Peter Boyd, Managing Director of Boyd Legal, Scotland’s leading equity release legal advice specialist, said the record figures combine with the fact that equity release is the fastest growing segment of the mortgage market in terms of customer numbers.

He said: “These figures play out in clear terms the value of home ownership in Scotland.

“Increasingly, we are seeing a crucial mindset switch from people who have paid off their mortgages; a realisation that anyone who owns a home bought with a mortgage has effectively been ‘saving’ throughout their lives. 

“It means that the house you live in is a potential source of income in older life because your mortgage has been invested in bricks and mortar – and that wealth can now be unlocked.

“Over the May-August period, Scots earned £3000 a month from their homes. That property wealth – which can be unlocked through equity release - can now be used to fund a range of measures to improve standards of living in later life, such as home improvements, holidays or as a vehicle to get children or grandchildren on to the property ladder.”

Elsewhere, increased competition in the equity release sector – driven by the surge in demand to open new equity release plans – has helped to drive down the cost of borrowing.

According to Key Retirement*, the cost of raising money through lifetime mortgages (the most popular form of equity release) has dropped dramatically over the past five years. Someone releasing the average amount of equity today of £70,625 could save as much as £75,000 in interest over 20 years.

Boyd Legal provide equity release advice to clients at five offices throughout Scotland. Their specialised team delivers that expertise to intermediaries throughout the UK.  More on Boyd Legal, please visit:

Boyd Legal began life as Boyd Property in 2004 - primarily as estate and letting agents - but rebranded as a full service firm, Boyd Legal, and moved into new showpiece offices in Edinburgh’s Queensferry Street in 2015.




Issued on behalf of Boyd Legal by Holyrood Partnership. For more information, contact 0131 561 2244 or


Rise in UK M&A Activity Predicted
Calls for Greater Support for Buyers of New-Build ...

Online Enquiry

Contact us using the form below

Invalid Input
Invalid Input
Please select a Legal Service
Invalid Input
Invalid Input
Invalid Input

Search properties for
sale and to rent