The latest trends for Leeds equity release
In our 2023 market report, we look at how rising property prices over the last five years have fuelled a 26% growth in the Yorkshire equity release market. We take a closer look at the impact of rising property prices – and how much extra you may now be able to unlock if you’re a homeowner in Leeds.
The equity release market has been booming over the past decade. Its continued growth in 2022 saw a record-breaking 93,421 new and returning customers unlocking their property wealth, according to Equity Release Council figures.
The availability of new plans and flexible product features in the last few years has undoubtedly contributed to this growth. For instance, since March 2022, all new equity release plans allow customers to make voluntary partial payments on their plans to reduce interest.
Record average house prices achieved last year may also be a contributing factor, as this can affect how much more someone can unlock from their home. Homeowners in Leeds have enjoyed a 30% property boom in the last three years alone, for example.
In this article we’ll explore the latest trends for equity release in Leeds, including:
- What is involved in equity release in Leeds?
- Average Leeds house values rise £110k in ten years.
- What does the house price boom mean for Leeds equity release potential?
- Growth in the Leeds equity release market.
- Do Leeds Building Society offer equity release?
- Will slowing property prices affect the Leeds equity release market?
- Extra flexibility adds to the popularity of today’s equity release plans.
- Alternatives to equity release in Leeds.
- Find out more about Leeds equity release.