Increase of 32% in total lending compared to Q1 2024
Written in line with our editorial policy.
The Equity Release Council has published its market report for the first three months of 2025. The headline figure is that total lending to equity release customers has increased for the fourth successive quarter.
Across January, February and March 2025, UK consumers accessed a total of £665 million through equity release plans. That’s a 32% increase in total lending when compared to the same period of 2024.
Other statistics for the quarter include:
- The average amount borrowed by customers choosing a lump sum product was £127,414 – up 11% on the previous quarter and up 23% on the same time last year.
- The average initial withdrawal from customers choosing a drawdown plan was £69,764 – down 2% on the previous quarter and up 17% on the same time last year.
- The average withdrawal from existing drawdown customers was £13,872 – up 21% on last quarter and up 8% on last year.
David Burrowes, chair of the Equity Release Council, said that the growth was driven by “more new borrowers accessing greater amounts of housing equity to manage mortgage debt, boost income and help their wider families”.
He continued: “Q1 typically sets the agenda for the remainder of the year and the figures released today are a testament to the resilience of the market and its ability to adapt to consistently shifting economic conditions.
“With the FCA [Financial Conduct Authority] due to launch a public consultation into lending into later life in June, this sector is likely to be in the spotlight for much of 2025 and today’s figures highlight its growing momentum as lenders, advisers and lawyers work together to support customers.”
