Two-thirds (73%) of people would consider using housing equity as part of their later life finances, reveals The Equity Release Council (The Council). Indeed by 2017, more than a quarter of a million (257,168) retirees will consider downsizing and 59,347 will look into equity release.
Research undertaken among almost 2,000 UK consumers of all age groups highlights the fact that while some of today’s pensioners might be able to rely on income from pensions, investments and benefits, going forward more and more retirees realise the critical role their property will play in retirement.
The research undertaken to coincide with the launch of The Council (formerly SHIP) reveals that while expected reliance on property decreases with age as people build up other assets, over half (55%) of today’s 55-64s still believe it will play some part in their retirement finances.
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This news article was provided by Solicitors for the Elderly