Equity release deals 'rise alongside house prices'

Over-55s in the UK took more than £1 billion out of their homes in equity release last year, two-thirds of which in order to boost their income.

Nigel Waterson, chairman of the Equity Release Council, told the Today programme's Simon Jack that the increase in equity release deals taking place since the 2007-08 property boom was due to people having greater confidence in the price of their homes and becoming "more aware" of the protections available.

First broadcast on BBC Radio 4's Today programme on Wednesday 5 February.