Get out more with equity release

Posted in Equity Release Property News

9th June 2010

Lottery money is being used to help tackle loneliness amongst older people, but they could also use equity release to independently boost their social life.

The Big Lottery Fund is donating £20m to help older people in Wales as part of the Promoting Independence Through Neighbourliness (PITN) project.

The money will be used for community projects, but if older homeowners want to do their own thing, they could release equity from their house.

By obtaining an extra income through a home reversion plan or lifetime mortgage, they could use the money to get involved with schemes and meet new people, or travel more to catch up with friends around the country.

Actress Margaret John is a patron of the PITN project and says that she's a strong believer in older people keeping busy to stay happy and healthy.

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