Release equity for better living standards

Posted in General

13th May 2010

One in six (16 per cent) people expects to have a "significantly" worse standard of living in retirement, something that they could remedy with a home reversion plan or lifetime mortgage.

A new poll by MGM Advantage also reveals that the closer to retirement people get, the more they fear a big drop in lifestyle – 60 per cent of 45-54 year olds, compared to 67 per cent of 55-64 year olds.

In the south east, nearly a quarter (23 per cent) expect their standard of living to sharply drop, but these people could boost their retirement income with equity release.

House prices in that region are amongst the quickest growing in the country, meaning that homeowners will be able to extract more of their value.

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