SAGA COMMENTS ON EQUITY RELEASE COUNCIL QUARTERLY FIGURESFriday 19 October 2012
Commenting on the quarterly sales figures released by the Equity Release Council, Roger Ramsden, Chief Executive, Saga Services said:
SAGA COMMENTS ON EQUITY RELEASE COUNCIL QUARTERLY FIGURES
"The figures show that Equity Release is proving to be an increasingly popular option amongst people looking to make the most of their retirement. Our own data shows initial lump sums increasing some 20% year on year and subsequent drawdowns also increasing by 20% over the same period.
"Also interesting is what people are using the money for, we have seen a 22% increase in the amount people are giving as gifts to family since 2011 - on average this stands at £27,000. People are also on average spending £10,000 on home improvement and £6,000 on a well-deserved holiday."
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