1 Opinium survey of 4,000 UK adults between the 31st October and 3rd November 2021
2Office for National Statistics, House price statistics for small areas in England and Wales: year ending March 2021, Nov 2021
3 Legal & General customers accessed, on average, 24.5% of the value of their home through equity release, putting the expected amount that can be accessed across England and Wales at £72,988: Office for National Statistics, House price statistics for small areas in England and Wales: year ending March 2021, Nov 2021
Notes to editors
About Legal & General
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With almost £1.3 trillion in total assets under management*, we are the UK's largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, alternative asset origination, life insurance, workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
* at 30 June 2021
About Legal & General Retail Retirement (LGRR)
Legal & General Retail Retirement's mission is to help its customers lead longer, healthier, happier lives. We believe everyone should be able to have a 'more colourful retirement'. The Division comprises the Group's retirement savings and income, later life lending and care solutions businesses. In 2020, LGRR wrote £910 million of annuity premiums and issued £791 million of lifetime and retirement interest only mortgages.
Lifetime mortgages are available to homeowners aged 55 or over and are a type of equity release that allows the customer to unlock some of the equity from their home without having to move. It's a loan secured against their home. If the customer gifts money away, the recipient may have to pay inheritance tax in the future. There may be cheaper ways to borrow money.
Name: Claire Byrd
Role: PR & Marketing Manager
Division: Legal & General Retail Retirement (LGRR)
Tel: + 44 7385 347 769
Name: Lewis Wilks
Tel: + 44 7903 260 560