Equity release ‘is not just a last resort’

  • Posted

Posted 02/12/2009

A finance group has advised older people that equity release need not only be an option considered by those suffering financial hardship.

Saga Personal Finance has conducted a poll revealing that over 60s are now choosing to release equity for a wide range of uses, including for leisure pursuits.

According to Saga’s findings, many people are using the money to make home improvements or go on holiday as well as to clear debts, while others are giving the money to their families.

Alex Edmans of Saga Personal Finance said this should challenge the view that equity release is solely a “last resort for cash strapped pensioners”.

He said: “In fact, people use the capital in their home to enjoy life, not just to get by.”

Last month, Safe Home Income Plans called on the UK’s major political parties to reach a consensus on the promotion of equity release as a potential solution for those facing difficulties affording the cost of long-term care.


    How can we help you?

    Please fill in the form and we’ll get back to you as soon as possible or to speak to one of our experts call
    0330 404 0749

    I accept that my data will be held for the purpose of my enquiry in accordance with Ashtons
    Privacy Policy

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

    How can we help?

    If you have an enquiry or you would like to find out more about our services, why not contact us?