Homeowners withdrawing large amounts of equity

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Millions of pounds of equity is being withdrawn from homes to fund renovations, extensions and new property purchases, according to figures in The Sunday Times. Homeowners withdrew £268.1m from property in the first six months of this year to invest in improvements, compared with £245.9m in the first half of 2012, according to data from Key Retirement Solutions (KRS), the equity release specialists. Dean Mirfin of KRS told The Sunday Times:  “As confidence returns and house prices rise, people are more willing to invest in properties, not just on essentials such as a new roof.” If you are looking to use the equity in your home to buy a new property, call us on 020 7016 0790. August 30, 2013
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