05 October 2005

Level of home equity release climbing

BRITONS are unlocking the money tied up in their property at the fastest rate since the end of 2003.

Owners withdrew £8.71 billion of equity from their homes between April and June, according to the Bank of England, which represented an increase on the £6.44bn unlocked from property during the first quarter of this year.

Experts said the rebound could indicate the housing market was stabilising following the recent downturn.

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