Equity Release
For many people who are 'asset rich and cash poor' dipping into the value of their home is one of their few alternative's. Recent research by Age Concern shows that a massive 40% of people are worried about their retirement income.
Opinions in the finance sector suggest releasing equity from our homes will soon be extremely commonplace. Last year £1.2 billion was borrowed in this way. By 2010 that figure could be £5 billion.
Equity release has recently attracted a lot of media interest, but very simply it is a way in which you can borrow against the security of your home, without having to make monthly repayments. For homeowners over the age of 60, these plans can be an ideal solutions to the problem of insufficient savings or income.


