Previously equity release was approached as a last resort in generating tax free cash in retirement; however consumers are now exploring equity release to maintain and sometimes enhance the lifestyle they want to lead in their third age.
The infographic below explores some of the key stats to come out of the market in 2017. The numbers might surprise you. As we are living longer and need our pension income to work harder for us equity release enables homeowners aged 55 and over to release tax free cash to spend as they see fit. The main reasons are:
1. Home improvements – adding value to your home. 2. Removing debt that ties you down each month. 3. Gifting your money to support friends and family.
But others use it for new cars, holidays, caravans. The list is endless.
Getting advice is key. My Equity Release Expert is regulated by the FCA and all our advisers are Equity Release Council members- who ensure the customer is safeguarded and is only offered equity release if its deemed right for them. By getting no obligation advice you will have the peace of mind that there is a plan for you or perhaps your savings, benefits and pension pots remaining the best solution. But more people are coming to us every year to understand their options and with house prices back on the rise customers could release more from their homes with the security of an advised equity plan behind them.
So why not speak to us today. We will be more than happy to help give you some peace of mind- if nothing more.