Older homeowners are reducing their property wealth in record numbers to support retirement plans, help relatives on to the housing ladder or pay off interest-only mortgages.
Figures from an industry trade body show that a record £870m was borrowed by homeowners over the age of 55 using equity release plans between January and March.
This was the highest figure since records began and a 120% increase from the same period two years ago, the Equity Release Council said.
