Will rising inflation rates boost equity release schemes?

Equity release might be a good option for over 50s who face inflation rates higher than the national average.

A recent piece of research made public by Alliance Trust Research Centre found that people in the 50 to 64 years-old age bracket face a higher rate of inflation at 4.5 per cent, which is significantly higher than the national rate of 3.2 per cent.

Although over 75 year-olds saw a rise in inflation rates from 3.3 per cent to 3.6 per cent, they faced the lowest inflation rates in comparison to other age groups, it has been revealed.

Workers in the age groups of 30 to 49 years-old and those who are in the 50-64 years-old bracket have had their inflation rates decrease.

However, inflation faced by those under 30 years-old has remained constant at 4.1 per cent due to depreciation in clothing and audio-video gadgets.

Recently, homeowners seeking equity release advice were told to ignore fluctuations in house prices by an industry expert.

Ashall Glover Financial Services advising on equity release schemes

Posted by Louise Tilston