Equity release up 11% at Just Retirement as retirees look to plug the pensions gap
Leading provider of financial products to the retirement market, Just Retirement, has announced an increase in equity release business of approximately 11% in the second half of 2008 compared with 2007.
The company, which is quoted on the London Stock Exchange, announced in its interim results statement that equity release advances during the last 6 months of 2008 totalled £81.8 million.
UK equity release enquiries increase despite nationwide recession
Just Retirement’s figures are in line with equity release specialist Hodge Lifetime’s findings that the UK’s entry into recession has not reduced homeowner’s interest in releasing equity from their property but has actually increased it.
Hodge Lifetime’s research found that independent financial advisors expect more clients to release equity in 2009 as they seek alternative forms of income due to falling returns on their investments.
Jon King, Managing Director of Hodge Lifetime said, “In the current environment, with stretched personal savings and inadequate retirement income, it is perhaps unsurprising that people are looking to equity release in order to make the most of the money built up in their homes”.
Equity release advice through the experts at Age Partnership
If you are considering releasing the equity from your home, contact the experts at Age Partnership for advice and guidance on the most suitable equity release plan to suit your circumstances.
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