The Telegraph reports “almost 500,000 older people have used equity release to free up cash from their homes as the market booms - sparking fears that it could trigger a fresh financial scandal. More than £28bn of property wealth has been borrowed by more than 487,000 people via equity release since 1991, meaning customer numbers are likely to break through half a million within months.

The popularity of the loans has surged in the past five years, with £2.8bn accessed in the nine months to September alone.” Read more

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