Equity release used to clear debt as hard times take hold
07/07/2010
More than a third of equity release customers have used the extra cash to help clear their debts, whilst almost half have put it towards essential house maintenance, according to new research by the University of Birmingham for Age UK.
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Equity Release sector holds up in 2008
The equity release market held up far better during 2008 than the mainstream mortgage market, according to the body that represents the industry.
Backing for Altmann on pensions crisis
Dr Ros Altmann’s call for radical action from the government to prevent an imminent pensions’ crisis has received backing from leading equity release specialist Home & Capital. Pensions expert Altmann, speaking at the Tax Incentivised Saving Association (TISA) conference on 26 November, said that, to avoid a crisis, fundamental changes to the current pensions system are needed before 2010, when the number of over-65s in the UK rises dramatically as the baby boomer generation reaches retirement age.
Pensioners 'being forced to rely on home equity to pay for care'
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Pensions "crushed" by falling house prices
With property prices falling at the fastest rate since the 1990s crash, many older people are seeing their pension hopes diminish before their eyes as they were relying on equity in their homes to support their retirement, leaving some seriously struggling.
Sale and rent back: why caution is necessary
Not all “sale and rent back” schemes are the same. Some come from firms authorized and regulated by the Financial Services Authority. But some don’t. Does it matter? You bet it does, because while regulated firms have to offer a secure lifetime lease, the rash of new, unregulated companies now offering schemes do not. Here’s a checklist of what you need to look out for if you are considering one of these schemes.
Britons clueless over equity release
According to the latest research from Norwich Union, more than half of Britons have no idea what equity release actually is - which paints a worrying picture for an aging population and their understanding of retirement options.
Check your equity options
“£400,000 needed to retire”
According to HomeWise Retirement Properties, the retirement housing and finance specialist, a woman retiring at 65 today and living on the average pensioner income will need around £437,886 for the rest of her life. The corresponding figure for an average man retiring at this age is around £366,912.
Exploring home options
If you, or a family member, are contemplating using a home to release money, make sure to get objective advice to get the right plan for you.
Equity release - is it the right thing for you?
According to the analysts in the financial sector, releasing equity from our homes will soon be extremely commonplace. A new guide is now available from Age Concern outlining the various options.
Get equity facts first
Thousands of cash-strapped pensioners are being failed by the pensions system and turning to equity release to make ends meet, warns Age Concern.

