The European Pensions and Property Asset Release Group met recently in London to discuss issues and trends in the global equity release market. Longbridge CEO Chris Mayer (third from right) attended on NRMLA's behalf.
The European Pensions and Property Asset Release Group (EPPARG) and EY predicts the home equity release market to more than double in size over the next decade from the current volumes of $17 billion.
That’s according to the third edition of the Global Equity Release Survey report that analyses data from market leaders across 13 countries spanning North America, Europe and Australia.
What they’re saying: “Ensuring a safe and financially secure retirement for our aging populations is something governments across the globe are aspiring to through public and private-sector innovation,” says NRMLA President Steve Irwin.
- “The monetization of home equity is one solution that continues to gain traction as indicated through this very important report. We look forward to continuing our collaboration with EPPARG to share and explore best practices for monetizing home equity for this critically important endeavor.”
Go deeper: The report includes the following observations:
- Global equity release markets continue to be resilient, despite challenging market conditions.
- Banks continue to be the most common source of financing, followed by insurance companies, securitizations and debt.
- Lack of knowledge and product awareness was regarded as the primary barrier to future growth, followed by funding challenges, notably in European countries, and higher interest rates.
