Equity release can form a 'standard' part of retirement savings

Home equity release schemes could soon form a vital part of people's financial plans for the future.

The myths and concerns surrounding equity release schemes have been dispelled by a recent report published by Age UK.

Speaking in response, Laurie Edmans, chairman of Safe Home Income Plans (SHIP), said the report had added weight to their concerted efforts to structure and promote the equity release market.

He said: "The no-negative equity guarantee and introduction of specialist equity release qualifications are but two of the steps that the industry has taken to ensure that customers are able to access the equity in their homes with confidence."

According to the report, 97 per cent of the respondents had experienced satisfaction with their equity release products.

Recent research conducted by Alliance Trust Research Centre indicated that workers in the 50 to 64 years old age bracket were facing 4.5 per cent of inflation in comparison to the national rate of 3.2 per cent.

Ashall Glover Financial Services are equity release specialists

Posted by Edward Simpson