Free for all readers – the Mature Times Guide to Equity release
05/06/2008
In recent years, tens of thousands of people have turned to equity release as a way of unlocking some of the capital tied up in their homes. It might well be something YOU are contemplating too. But is it really the best option for you ... and what are the alternatives and the pitfalls?
More Stories
Releasing equity bridges the gap for Huddersfield couple
Not every couple enters retirement with their mortgage cleared, so when one Huddersfield couple were faced with this situation, they looked at all the available options and decided to use some of the equity in their house to pay off all their bills.
Equity release puts Yorkshire couple on top down under
The trip of a lifetime is awaiting a South Yorkshire couple later this year – following their decision to release part of the value locked up in their home.
Pensions "crushed" by falling house prices
With property prices falling at the fastest rate since the 1990s crash, many older people are seeing their pension hopes diminish before their eyes as they were relying on equity in their homes to support their retirement, leaving some seriously struggling.
Why move – when you can have all this?
After living in their dream home for the last 42 years, the last thing that Doug and Pamela Boyes want to do is move. So when they were looking for some additional funds in their retirement years, the opportunity to release some of the equity tied up in their home - and stay where they were - proved to be the solution to all their needs.
Ken’s steaming ahead in retirement – with a little help from In Retirement Services
Ken and Linda Townsend have just celebrated 40 years living in the same home – by releasing enough equity in the house to really make the most of their retirement years.
Sale and rent back: why caution is necessary
Not all “sale and rent back” schemes are the same. Some come from firms authorized and regulated by the Financial Services Authority. But some don’t. Does it matter? You bet it does, because while regulated firms have to offer a secure lifetime lease, the rash of new, unregulated companies now offering schemes do not. Here’s a checklist of what you need to look out for if you are considering one of these schemes.
Britons clueless over equity release
According to the latest research from Norwich Union, more than half of Britons have no idea what equity release actually is - which paints a worrying picture for an aging population and their understanding of retirement options.
Check your equity options
“£400,000 needed to retire”
According to HomeWise Retirement Properties, the retirement housing and finance specialist, a woman retiring at 65 today and living on the average pensioner income will need around £437,886 for the rest of her life. The corresponding figure for an average man retiring at this age is around £366,912.
Exploring home options
If you, or a family member, are contemplating using a home to release money, make sure to get objective advice to get the right plan for you.
Equity release - is it the right thing for you?
According to the analysts in the financial sector, releasing equity from our homes will soon be extremely commonplace. A new guide is now available from Age Concern outlining the various options.
Get equity facts first
Thousands of cash-strapped pensioners are being failed by the pensions system and turning to equity release to make ends meet, warns Age Concern.