Could equity release help manage personal financial crisis better?
02-09-2010 10:59
Equity release loans, equity release
Equity release loans could help ease the pressure felt by consumers when suddenly faced by monetary crisis.
Almost 70 per cent of Brits have been found to keep their financial problems to themselves by a recent survey conducted by Callcredit Information Group.
It was found by the market analyst that the said percentage of consumers failed to inform, let alone seek help from, their banks and building societies when tackling a financial shortfall.
Another 38 per cent of people also did not make any adjustments or take any further steps like taking out equity release to help ease their monetary burden, it has been revealed.
Graham Lund, managing director of Callcredit, said: "What's particularly concerning is the number of people who fail to make their bank aware of sudden changes in their financial situation - and those that do get in touch aren't always completely honest."
Recently, it was revealed by Moneynet.co.uk that lack of discussions between partners could also see a lot of couples facing deficits in their retirement savings.
Equity home loans from Ashall Glover Financial Services
Posted by Louise Tilston