Property wealth is being increasingly used during divorce and separation, analysis from Key Retirement showed.
Nearly one in 10 of Key Retirement's customers are now divorced or separated, with couples going through break-ups releasing up to 13 per cent more than average.
Meanwhile 17 per cent of customers are widowed and married couples make up 65 per cent of the total market.
Single women account for nearly a quarter of sales compared with just 11 per cent who are single men.
Dean Mirfin, technical director at Key Retirement, said: “Equity release enables one partner to remain in the home while allowing property wealth to be shared and is a growing alternative for settling property issues at divorce.
“It increases the funds available for the other partner to fund a new home and improves their chances of being accepted for a mortgage at a time when finances are stretched.
“It also enables a home purchase through the ability to release money on the new home as well if needed.
The analysis of 2016 figures showed 10 per cent of customers were divorced or separated, with couples who are separating releasing nearly £70,000 in contrast to the £61,700 for married couples.
The latest government data shows the only group to record an increase in the divorce rate is women aged 55-plus.
While across the UK the number of divorces and the divorce rate has dropped nearly 30 per cent since the peak in 2004 to around 111,169 divorces a year, around 27 per cent of divorces – or 30,560 - in 2014 were among couples aged 55-plus.
Mr Mirfin said: “Couples in that age group will in general have more valuable assets to split and more complex finances so there is a need for straightforward and fair solutions which equity release can contribute to.”
damian.fantato@ft.com
