It therefore estimated that over 600 homeowners have been given a helping hand to buy their own home this year.
One in 50 equity release cases are using money to help first-time buyers get on the housing ladder, Retirement Advantage research indicates.
It therefore estimated that over 600 homeowners have been given a helping hand to buy their own home this year.
Alice Watson (pictured), head of marketing at Retirement Advantage, equity release, said: “Many people use equity release to help fund home improvements or holidays in retirement, but more and more we are seeing plans being taken out by people that want to help their loved ones onto the housing ladder or give the funds as a gift.
“Increasingly, people want to pass on the value stored in their properties and see it enjoyed by their relatives during their lifetimes."
