Pre-budget report strengthens case for equity release
02-01-2010 09:43
SHIP, the equity release trade body, believe the Pre-Budget Report strengthens the case for equity release schemes
The reduction in tax relief on pension savings along with reduction in the future value of public sector pensions will cut the future pension income of millions.
SHIP commented: "With straightened economic circumstances and an ageing population, the issue of how we fund retirement is a problem that is not going away. We believe that the government has a duty to pensioners to consider all retirement funding options - including equity release. There is an estimated £700 billion tied up in housing equity by those in retirement: money which could be used to improve the quality of Life for many pensioners.”
Louise Tilston of Ashall Glover Financial Services said: “We are receiving an ever increasing number of enquiries for those looking to release equity from their home to supplement their pension income. As with all financial products you should consider consulting with an independent financial adviser to ensure that you receive the correct advice.”
Ashall Glover Financial Services are equity release specialists and have produced a series of free equity release guides to benefit all of those considering equity release