Release equity to go on holiday

More homeowners may now consider getting a lifetime mortgage after an expert came out and said there were plenty of travel insurance options available to them.

Last week, we reported that a survey by Which? had shown that there was a limited market for older travellers wanting insurance, but now analysts Defaqto suggest this may not be the case.

Mike Powell from Defaqto recommends that older homeowners look for travel insurance companies that are specifically geared towards the older market, so they can have peace of mind when they take their trip.

A lifetime mortgage is the most popular form of equity release, as it allows homeowners to extract a lump sum to pay for items like a holiday. Alternatively, they may want to treat themselves to a new car or pay for improvements around the house.

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