Equity release sales rose slightly during the third quarter of the year.
Figures from Safe Home Income Plans show its members wrote £295.1m in that period, an increase of 12.3 per cent on Q2 2006 but only 0.51 per cent ahead of Q3 2005.
This contributes to an annual rolling year total figure of £1.13bn to September 30, 2006.
Ship chief executive Jon King says: “The latest figures show how the equity release market continues to increase in popularity. Whilst overall business value figures, compared year on year are flat, this last quarter has seen a healthy increase compared to Q2 2006.
“The continued popularity of flexible drawdown products has resulted in a healthy rise in the number of cases. If the number of new cases continues to grow at this rate we could be set for a record year for new business.”