Archive for the ‘pensions’ tag
Adults Relying on Savings to Cover Income Shortfall
After it emerged that almost a third of adults are relying on their savings to make up for the lack of income in recession-dominated times, for many homeowners, aged over 55-years-old, an equity release scheme might give them the income they need without affecting savings.
Pension Changes Could Force Homeowners to Use Equity Release
Plans to link private pensions to the Consumer Price Index (CPI) have been met with criticism and, if approved, could affect the value of the pension fund, forcing some homeowners to consider alternative income in retirement like an equity release scheme.
Steadying the SHIP in the Equity Release Market
The month of July will be defined by encouraging news for the equity release market, news that saw SHIP (Safe Home Income Plans) speak positively about the future of the market.
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.
