Cover fuel costs with equity release

Posted in Equity Release Video News

29th June 2010

There are worries that older homeowners may lose free travel and their winter fuel allowance, requiring them to look into equity release for extra income.

Work and Pensions Secretary Iain Duncan Smith sparked the concerns by saying he would have to "look at" the schemes, when asked if they were sustainable.

And another unnamed minister told the Financial Times it was "almost certain" that pensioners' fuel payments, bus passes and free TV licences would go as the government looks to cut back.

If these cuts come about, then pensioners may need to look towards equity release to fund the shortfall.

Shadow Work and Pensions Secretary Yvette Cooper attacked the coalition, accusing it of breaking "another election promise" by "hitting pensioners hardest".

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