Three Quarters Say Equity Release is Right For Them
The Age UK report, released last week has suggested that over three quarters of equity release customers felt the plan was right for their needs. Plus 97% of customers suggested they were satisfied with the plan they took out.
Age UK’s report – Housing and Finance in Later Life – should go some way to improve the image of equity release and perhaps strengthen its appeal as a source of finance in retirement.
“97% Felt Satisfied With the Plan they Took Out”
Safe Home Income Plans (SHIP) have been encouraged by Age UK’s findings, feeling that it could help strengthen the case for equity release as a means of retirement planning. Laurie Edmans, chairman of SHIP, said:
“Indeed, with 97% of respondents saying they felt satisfied that the plan they took out was the right one for their needs, this study goes a long way towards dispelling some of the myths about equity release.
“When this new report is considered alongside evidence from the Pensions Policy Institute and the SHIP discussion paper, the case for equity release to be seen as a standard part of retirement planning is serious and close to becoming irrefutable.”
Equity release has the potential to unlock a tax-free lump sum from the value of a property to supplement income in retirement.
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