If you are into real estate investing then you are perhaps familiar with HomeUnion Investment Properties. HomeUnion investment has been a forerunner in the industry where it belongs to. Its years of fruitful experience in the real estate industry sector as well as the pool of expert real estate agents and consultants have added to the reliability of their brand.
The UK scenario
In the second quarter this year, it has been official that the equity release lending to the home owners in United Kingdom for owners aged more than 55 amounted to 384.3 million pounds. This is the largest amount ever recorded for any quarter.
This latest figure from the Equity Release Council surpasses the previous high which was in the amount of 375.4 million pounds. The record also showed that the withdrawal of over the age of 55 was about 4.2 million pounds everyday from the months April to June in relation with housing wealth.
This uplift in the real estate industry came despite the savers have gained greater access to their respective pensions under the freedoms that was launched last April. As the prices of housing increases, it shows that there is a rising appeal in leveraging property wealth as an extra means of source of retirement fund later in life.
The record lending during the second quarter of this year means that the total value of the equities released within January to June hit at least 710 million pounds. This is the largest amount recorded for the first half of any year in history. The amount reflects also an 11 percent increase from the first half of last year.
In the second quarter, records show that there were more than 5000 new equity releases to clients and the figure is a significant 11 percent increase from the previous quarter. The number pushed the total figure of new customers past the 10,000 mark for the first half of 2015.
Consequently, the value of lending thru the lump sum mortgages also increased by at least 10 percent on a year on year basis during the first six months of this year. The value reached to a staggering 285.3 million pounds. This is by far the highest total amount recorded for a lump sum activity during the first half of any given year since 2007.