Consider equity release when retiring

Posted in General

26th April 2010

Not considering an equity release scheme when planning for retirement is "ridiculous", according to Safe Home Income Plans (SHIP).

SHIP represents the majority of the equity release market, including the leading providers of lifetime mortgages and home reversion plans.

Andrea Rozario, director general of SHIP, also commented that equity release can prove to be a "valuable planning tool for retirement".

She goes on to comment that it makes "total sense" to consider your largest asset – your house – when thinking about your finances in retirement.

However, Ms Rozario noted some concern that there was a "worrying trend" of people releasing equity from there house just to pay off debts.

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