Equity Release

HM Treasury written question – answered on 10th June 2016.

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Photo of Julian Knight Julian Knight Conservative, Solihull

To ask Mr Chancellor of the Exchequer, what studies and research his Department has undertaken or commissioned on the potential benefits of equity release on retirement incomes; and if he will estimate the potential effect on the public purse of a lower take-up rate of means-tested old-age benefits resulting from greater use of equity release.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

Figures published by the Equity Release Council, an industry body, on the extent of equity release lending are available here:

http://www.equityreleasecouncil.com/document-library/equity-release-market-report-spring-2016/

The Government has not undertaken or commissioned any recent studies on the relationship between equity release and means-tested benefits.

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