Archive for the ‘retirement’ tag
Energy Prices Continue to Affect Cost of Living
Increases in energy prices and a lack of clarity over costs are continuing to put pressure on homeowners, especially those approaching or in retirement.
Parents Could Help Children Get on Property Ladder
Releasing equity from the family home to help children get on the property ladder could help those children struggling with bigger deposits and average house prices. A recent study produced by Safe Home Income Plans (SHIP) suggests that the average home bought by a first time buyer in 2010 is 558% higher than in 1983.
Equity Release Could Help Pensioners Feeling the Squeeze
Recent reports have suggested that with inflation soaring sky-high and rates on savings being low, many pensioners are feeling the squeeze. However, while cash may be in short supply many pensioners are sitting in a gold mine when it comes to equity release in their homes. Reports have suggested that around £765 billion could be tied up in property.
Worry as Pension Schemes Face Radical Changes
Plans unveiled recently could mean that millions of individuals may be faced with having to pay more into pension schemes and have to work longer until they are able to draw on their pensions. This could mean that homeowners over 55 years old may need to look into equity release schemes for to supplement their pension incomes.
Equity Release Schemes Could help Fund Care Fees
A report is being commissioned which will recommend an overhaul of the care funding system. It is thought that in it there will be suggestions of homeowners turning to equity release schemes and using this money towards the spiralling costs of care.
House Price Uncertainty Driving Homeowners Towards Equity Release
With there being uncertainly with regards to when the housing market will pick up, many homeowners around the age of 55 could consider an equity release schemes to guarantee that they are able to leave their children an inheritance.
Last Twelve Months Tough for Over-55s
The past twelve months have been tough for over-55s as shrinking salaries have failed to compensate for the increased cost of living and contributed to a rise in the average mortgage debt.
Debt Is a Growing Problem for Over-55s
According to Aviva’s fifth Real Retirement Report, 23% of over-55s don’t expect to be free of debt until they are about 75-years-old and 15% feel they won’t ever be able to pay back what they owe.
Pension Deficit Shows a £68 Billion Shortfall
Research suggests that the pension deficit today remains as high now as it was six years ago, despite an additional £50 billion investment by UK companies. This could encourage some homeowners to consider an equity release scheme.
Report Reveals 40% of Home Reversion Schemes Used to Repay Mortgage
This month, a study investigating why customers choose home reversion schemes and how they choose to use their extra cash, revealed more than 40 percent use it to repay an existing mortgage.
