Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Home Improvements Remain Leading Reason for Equity Release in 2026

Home adaptations or improvements continued to be the most common reason for equity release in the first half of 2026, according to Canada Life. The company’s survey found that 43% of applicants cited this as their main motivation, matching the figure reported in 2025.

Canada Life’s data also shows a rise in the number of customers using equity release to clear existing mortgages. In H1 2026, 30% of applicants gave this reason, up from 27% in 2025. The proportion increased from 27% in Q1 2026 to 32% in Q2 2026, although this remains below the peak seen five years ago, when almost half of customers released equity for mortgage repayment.

Gifting to family was the reason for 15% of applications in H1 2026, a decrease from 19% in 2025. Canada Life notes that more customers are now focusing on clearing mortgages, consolidating debt, and strengthening their financial position, rather than gifting.

For UK letting agents and inventory clerks, these trends highlight the ongoing demand for property adaptations and improvements, which may impact property condition and tenant requirements. The data also suggests that homeowners are prioritising financial resilience and property enhancement over discretionary spending.