Rapport viser internasjonal optimisme for lånetypen Seniorlån
Låneprodukter tilsvarende Seniorlån tilbys i mange europeiske land, samt USA og Australia, og organisasjonen EPPARG (European Pensions and Property Passet Release Group), hvor LittExtra er med, publiserer årlig en rapport om markedet for lånetypen Seniorlån. I den nyeste markedsrapporten (publisert mars 2024) uttrykkes det stor optimisme for lånetypen Seniorlån.
Global Equity Release market forecast to hit USD 50 billion by 2033
London, 20 March 2024: The European Pensions and Property Asset Release Group (EPPARG) and EY have today published the Global Equity Release Roundtable 2023 survey report, which highlights that the global equity release market could hit USD 50 billion by 2033, more than doubling its current size.
The report gathers data from market leaders across 13 countries globally with established or developing equity release markets, and analyses growth potential. The 13 countries span Europe, North America and Australia, and are considered to be amongst the largest equity release markets in the world.
Key findings from the report include:
- There is an increasing need for the product given the cost of living crisis and higher inflation.
- Among the countries analysed, over $17bn of equity is currently released each year for homeowners, but this is expected to increase dramatically by 2033, when the global equity release market is expected to reach $50bn in annual releases.
- Banks are the most common source of financing for equity release mortgages globally, followed by insurance companies, securitisations and debt.
- The most common type of equity release is the lifetime mortgage, which is available in the majority of countries covered by the survey, followed by home reversion schemes.
- Equity release products are typically available to customers from the age of 55 or 60 years old, with a mix of fixed and variable rates offered.
- The most popular product globally is the lump sum, with annuity and drawdown products available in a number of countries.
- The most significant factor cited as impacting equity release pricing is interest rates, followed by funding costs and availability.
- A lack of customer awareness is cited as the primary barrier to growth, followed by insufficient funding, notably in European markets.
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