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.

Peter said: “Equity release is on the rise. It is a real alternative for older people who are seeing savings squeezed by historically low interest rates.

“The changes made through tougher regulation to vastly improve consumer safeguards – which have elevated the sector out of the bad reputation that it previously had – has seen equity release now become a mainstream retirement product for older homeowners. 

For full coverage in SBNN, please click here. 

Peter Boyd is the Managing Director of Boyd Legal