Treating Yourself with Equity Release

The recent house price rises could once again increase the popularity of equity release schemes, especially for those homeowners seeking to improve the quality of their lives in retirement.

According to Age Partnership statistics, 14.20% of customers took out an equity release scheme to improve their lifestyle in the first three months of 2010. However, enjoying a holiday or buying a new car are singled out on the list of things people use equity release for.

Releasing Equity for the Dream Holiday

With summer upon us, many people will be looking to make the most of the good weather. Yet for retired homeowners, releasing equity might give them the opportunity to enjoy a holiday of a lifetime.

During the first three months of 2010, 1.70% of customers who released equity did so to finance a dream holiday. With world travel now more accessible people can book their break to the most glamorous destinations and this appears to be popular amongst equity release customers.

Upgrading Your Car with an Equity Release Scheme

Whilst holidays were a popular reason for customers to release equity, a new car ranked even higher with 3.55% of customers citing this in the first three months of 2010. This percentage of customers remained consistent with the same period a year earlier.

No related posts.