Market Monitor

Full Year 2023

14 March 2024

Key’s 2023 H1 Equity Release Market Monitor

25 July 2023

• Quarterly sales and total value released figures are ‘more positive’ and Key predicts a surge in product innovation 

•  Frustration over mini-Budget and base rate rises but market drivers remain strong 

•  Key’s 2023 H1 Equity Release Market Monitor shows 48% drop in number of customers and 57% fall in the amount released 

Quarter 1 2023

24 May 2023

• Key’s 2023 Q1 Equity Release Market Monitor shows total lending was £722 million

• Focus on repayment of debt as well as gifting

• Product innovation to accelerate through 2023 and further boost sector growth

Full Year 2022

07 February 2023

• 2022 saw £6.3 billion worth of equity release borrowing
• On average, customers released £106,806 from their home in 2022

Quarter 3 2022

02 November 2022

• New plan sales rose by 29% while the value of equity released grew by 45%
• 60% of equity release used for debt management and 11% for family support

H1 2022

19 July 2022

• New plans rose by 25% while the value of equity released grew by 32%
• Remortgage transactions account for almost a fifth of all equity released
• Key’s 2022 Q1 Equity Release Market Monitor shows total release of £3.43 billion including existing customers

Quarter 1 2022

25 May 2022

• Older homeowners released an average £111,500 in property wealth
• Equity release plan sales surge 21% and value of equity released soars by 30%
• Record first quarter with more customers using equity release for mortgage repayment than ever before

Full Year 2021

18 January 2022

• More than £12 million released a day in 2021 despite ongoing pandemic
• Equity release plan sales increased by 4% but value of equity released rose by 28%
• Customers withdraw an average £104,792 with the focus on repaying debts and helping family, Key’s 2021 Equity Release Market Monitor shows

Quarter 3 2021

11 November 2021

• Average customer benefited from nearly £101,593 third quarter
• Debt management, remortgaging existing plan and gifting drive market
• Key’s 2021 Q3 Equity Release Market Monitor shows

H1 2021

16 July 2021

• Older Homeowners receive £1.94 billion Property Wealth Boost
• Equity release plan sales rise 3% as total value increases 32%
• More than half of customers use their homes to clear big ticket items like mortgages and other debts