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LLB Later Life Borrowing

Property rich, cash poor: the UK picture

A growing number of older homeowners are what is often called property rich but cash poor: they own a home worth a great deal, yet they have modest pensions and little spare income each month. Their wealth is real, but it is locked in the walls of the house and cannot easily be spent. This page explains who that group is, why they are the natural audience for equity release, and offers an illustrative regional table marked clearly as a placeholder.

Illustrative regional figures. The percentages below are a placeholder to show the format. They are not sourced and must not be quoted as fact. They will be replaced with a sourced join: the ONS Wealth and Assets Survey (property wealth and income by age and region), the Land Registry UK House Price Index (home values), and the FCA Financial Lives survey (disposable income and financial resilience).
Illustrative share of over-55 homeowners who are property rich but cash poor, by region (placeholder)
RegionIndicative shareStatus
LondonAbout 28%Illustrative
South EastAbout 24%Illustrative
South WestAbout 23%Illustrative
East of EnglandAbout 22%Illustrative
WalesAbout 18%Illustrative
West MidlandsAbout 17%Illustrative
East MidlandsAbout 16%Illustrative
Yorkshire and the HumberAbout 15%Illustrative
North WestAbout 15%Illustrative
ScotlandAbout 14%Illustrative
North EastAbout 12%Illustrative
Northern IrelandAbout 12%Illustrative
Source: Illustrative only, to be confirmed against ONS Wealth and Assets Survey + Land Registry + FCA Financial Lives
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Who counts as property rich, cash poor

There is no single official definition, which is part of why no one publishes a clean figure. In practice the group is described by two facts that sit together: a home worth well above the regional average, often above the 250,000 pound mark, combined with a low disposable income once essential costs are paid. A retired couple living on the full state pension and a small private pension, in a house they bought decades ago that is now worth several hundred thousand pounds, is the classic case. On paper they are wealthy. Day to day, money can be tight.

Why this group is the natural equity release audience

Equity release exists precisely to solve this mismatch. It lets someone aged 55 or over convert part of their property wealth into cash they can use, without having to sell and move. For a household that is asset rich but income constrained, that is the central appeal: turning some of the value in the home into money for daily life, home repairs, helping family, or topping up a pension. It is not the right answer for everyone, and it reduces what is left to pass on. But the property rich, cash poor profile is exactly the situation the product was designed around, which is why this data matters for understanding demand.

How this is measured

A reliable figure requires three primary sources joined together. The ONS Wealth and Assets Survey provides property wealth and income broken down by age and region. The Land Registry UK House Price Index gives current home values, so a high-value threshold can be set regionally rather than nationally. The FCA Financial Lives survey provides disposable income and financial resilience, which defines the cash poor side of the test. Until those sources are joined and entered, the regional table here is illustrative only and labelled as such. Last reviewed June 2026.