How have higher rates affected the equity release market?

Indeed, Forsdyke at Knight Frank Finance, who notes his service was deliberately named ‘later-life finance’, says: “From the outset when we launched in 2019, we saw the need for broad borrowing advice for older homeowners, and that is really coming into play now we are in a higher interest rate environment.”

Chloe Cheung is a senior features writer at FTAdviser