Equity release providers should watch out: it is still very lucrative to downsize.
According to the Downsizer Report from Lloyds Bank, Londoners release an average of £263,770 by moving to a smaller house, while the average nationally released is £121,686.
Apparently, wanting a smaller home is the main motivating factor for people looking to move, and is nearly 10 per cent more profitable than 10 years ago. Another win for the baby boomers.
