House price growth could boost equity release plans
06-05-2010 11:00
An increasing proportion of homeowners may be able to cash in on equity release schemes in the future, after a sustained period of growth in house prices was predicted by one expert.
Ben Wilkie, editor of What Mortgage, said an upward curve in property prices appears likely, although much will depend on the outcome of the general election.
Heavy cuts or significant unemployment could lead to a slight contraction in the market, he conceded.
"But I think generally we are on an upwards trend," Mr Wilkie added.
The centre for economics and business research predicted on May 3rd that average UK house prices are likely to rise by 5.3 per cent in 2010.
In addition, it suggested that house prices are expected to rise by 3.4 per cent in 2011, by nine per cent in 2012 and by four per cent in 2013.
Low mortgage rates and a limited amount of new builds are identified as key factors driving price rises.
Equity release plans from Ashall Glover Financial Services