As UK pensions become weaker and weaker, equity release is anticipated to become more popular. Older people use equity release to free up money stored in their property in order to fund their old age.
The equity release organisation Sovereign Reversions indicate that 60 plus consumers own some £2.21 trillion in property equity . 60 plus borrowers make up some 21 per cent of the population, but by 2036 will account for 29 per cent.
Pensions are being weakened by fewer final salary pension schemes, and more age dependency ratios are being applied. Many pensioners will need to use equity release to free up enough money to live in their old age. The value stored up in houses is an obvious source of income for many people.
Pension weakness will increase equity release
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Pension weakness will increase equity release
Tue, 04 Dec 2007
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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