Of this equity release mortgage advances accounted for £146.2m for the six months ended 31 December 2012 compared to £137.7 for the same period in 2011.
Rodney Cook, chief executive of Just Retirement, said: “As previously announced Just Retirement achieved record sales results across all categories of the group’s business.
“Equity release advances maintained strong growth to reach record levels of £146.2 million an increase of 6.2% compared to the same period last year. Demand from those people approaching and in retirement to improve their retirement income continues to fuel growth in the sector. The total market for equity release, as measured by the Equity Release Council, has grown in each of the last three reported quarters.”
Cook added: “Just Retirement successfully delivered its response to the regulatory challenges of the Retail Distribution Review and the gender directive and is continuing to support advisers as they make their transition to supporting their clients and adapting their businesses following these changes.”
