Millions set to use equity release to fund their retirements, report

 

More than one million Britons are preparing to utilise the value of their homes in order to fund their retirement, according to a new report.

Those contemplating such a move could be encouraged to seek equity release advice from an independent and professional scheme provider.

A recently-published study by insurance firms LV= has shown that 1.2 million Britons are looking to "cash in" on their homes.

The organisation's Vanessa Owen said: "It seems to be increasingly commonplace for those approaching retirement to consider using the equity in their property as part of their overall retirement plan.

"Continuing doom and gloom over volatility in the housing market and seeing some properties fall in value, hasn't deterred the UK's "Hippies" and many are still positive that the equity they have built up over the years in their home is their best chance of having a more comfortable retirement."

Expats aged over 55 years who still own a property in the UK and who are curious about how an equity release plan could boost their retirement funds can find out by seeking professional advice.