Equity release plans were one of the fastest-growing parts of the home loans industry in the second half of last year, with customer numbers growing by 23% to almost 44,000.
The plans, which enable over-55s to unlock the value of their homes while living in them, helped customers to access more than £1bn, the Equity Release Council said.
Legal & General, Aviva, Nationwide Building Society and Canada Life are among the biggest players in the industry, which is trying to improve its reputation after scandals and accusations of high and confusing charges.
