Will home equity release schemes look more attractive as house prices rise?

Home equity release schemes may be looking more attractive to some homeowners as house prices continue to rise.

There was a 0.2 per cent increase in housing prices in April compared to the previous month, according to the Land Registry House Price Index.

This may have eased the minds of people counting on their home equity release schemes to take care of their financial needs.

According to the Land Registry, the average price of a house in England and Wales now stands at £165,596.

London has experienced the most progress, with house prices jumping by 14.8 per cent. On the other side of the spectrum is Yorkshire & The Humber, which only saw a 0.7 per cent change.

Recently, HSBC published a report that highlighted the negative impact the global economic downturn had had on house values. The fall in house prices had depleted the value of equities held in homes, raising concerns among homeowners.

Ashall Glover Financial Services experts in home equity release schemes