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Popularity of equity withdrawal on the up

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  • 10/08/2001
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A new survey from the Council of Mortgage Lenders (CML) has discovered that mortgage equity withdraw...

A new survey from the Council of Mortgage Lenders (CML) has discovered that mortgage equity withdrawal is again becoming an important method of borrowing.

The research discovered that the average amount of equity released from a home is now around £24,000, and 64% of those surveyed who withdrew equity from their home said they spent at least part of it in the first six months.

The report also found that equity injection, where the borrower increases their housing equity through lump sum repayment of mortgage debt, is on the increase. 39% of all home movers injected some equity when they moved house, and the average amount was £23,800.

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