Could Equity Release Improve Self Esteem?
A study produced by Aviva has identified a link between financial control and happiness, which might encourage some homeowners to consider equity release.
Equity release schemes provide homeowners with an opportunity to supplement their income by releasing some of the value in their home. Plus, with 68% of people with high self-esteem good at planning their finances, the amount of information available about equity release schemes will help homeowners to plan their payments and how much they could owe.
Encouraging Factors for Equity Release
Aviva’s Feel-Good Insight Study, which was produced with a leading psychologist at City University, London, highlighted some interesting trends. It showed that 25% of people with a credit card didn’t know their outstanding balance and 30% of people who have a pension aren’t confident that they have the right provision in place.
Equity release could help those respondents looking to supplement their pension fund or manage their debt. However, it is the statistics relating to financial control and well-being that are the most encouraging factors.
With two thirds of people benefitting from controlled finances they might feel that releasing equity is the ideal way to supplement their income in retirement whilst managing their budget to afford life’s basic essentials.
This is very important for achieving happiness for 85% of the people asked.
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