Despite this, Chan anticipates the continued rise in equity release being used for intergenerational wealth transfers: “I think demand for this will certainly increase as property prices have increased significantly, particularly in London and South East England and due to the recent stamp duty mini-holiday, and for younger people it’s even more difficult to buy their own homes, even if they have a large deposit saved. So, family-gifted deposits will be increasingly needed.”
Aamina Zafar is a freelance journalist
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