Archive for the ‘pensions’ tag
Homeowners Battle Recession by Releasing Equity
As many as a third of equity release customers are releasing some of the value from their homes to pay off debts.
According to new research commissioned by Age UK and carried out by The University of Birmingham, more homeowners are turning to equity release as a means of easing the burden of debt.
Pensioner Couples Need £222 a Week
The average pensioner couple will require £222 a week, excluding rent, to be able to live to an acceptable standard. This is according to research carried out by the Joseph Rowntree Foundation (JRF) and, with the pension crisis at the forefront of people’s thinking, it might make an equity release scheme an option in the future.
The Budget and House Prices Affect Equity Release
During the month of June the equity release market was once again affected by house prices, both positive and slightly negative based on different sources, whilst the “Emergency” Budget, announced by the coalition Government, also impacted on the equity release market.
Less Than 50% of People Are Saving Enough for Retirement
According to a new survey by Scottish Widows, only 48% of people are saving enough for their retirement. With such a shortfall in pension savings, alternative sources of income like equity release schemes might be needed.
Government Plans to Bring Forward Pension Age Increase
In a move that could see many Brits working well into their late 60’s and, possibly, early 70’s sooner, the Government’s decision to bring forward the increase in retirement age could result in more homeowners turning to equity release.
“Equity Release Would Seem the Logical Answer to Government Changes”
The “Emergency” Budget outlined by Chancellor George Osborne this week (22 June 2010) looks set to affect most people in the UK because of the rise in VAT. However, according to Andrea Rozario, director general of SHIP (Safe Home Income Plans), it could be the over 55 year olds that suffer the most.
Can Equity Release Improve Your Pension Fund?
With people trusting pensions less and less and predictions of many people not having sufficient income in retirement, sourcing alternatives has become popular. Equity release is one such alternative with the value stored in homes providing an additional source of finance.
Using Equity Release to Make Up the Pension Shortfall
With the new coalition Conservative and Liberal democrat Government remaining committed to public sector pension reform and further cuts, there is a worry that numerous people might be affected. However, by using an equity release scheme, homeowners from the public sector that are approaching retirement might be able to improve their lifestyles.
Five Top Reasons For Equity Release
Homeowners across the UK release equity for a whole number of reasons, whether it is about improving quality of life or managing debt. However, what are the five main reasons that people release equity from the value of their properties?
SHIP Urge New Government to Promote Equity Release
The equity release trade body, Safe Home Income Plans (SHIP), has urged the new Conservative and Liberal Democrat coalition Government to “help to improve the standard of living for older people” and consider equity release as a tool for funding retirement.
