Could equity release curb the deterioration of family finances?

Equity release may begin to look more attractive to families in the face of increasing financial pressure, which research shows is forcing many new mothers back to work.

The new study conducted by uSwitch.com found that 52 per cent of women returning to work soon after the birth of their baby were doing so due to pressing financial needs.

It was also found that during maternity leave an average British family income decreases by 34 per cent. While on statutory maternity pay, women receive only £2,266 down from £3,431 per month.

Ann Robinson, consumer policy director at uSwitch.com, said: "With the new government planning to cut child trust funds and the impending budget causing concerns over pay freezes and redundancies, family finances are under more pressure than ever."

Planning for the future, assessing needs and having full control over your expenses is advisable as research Aviva found that successful financial planning was linked to self-esteem levels.

Ashall Glover Financial Services are equity release specialists

Posted by Louise Tilston