Could a lifetime mortgage help expats living 'beyond their means'?

 

Millions of expats are living beyond their means, according to a new report.

This could inspire a number of people aged over 55 years, and who still own a property in the UK, to use an equity release calculator in order to see how the value of their home could offer them a welcome income boost.

Recently-published figures from insurance firm Bright Grey have revealed that seven million Brits are spending more than they earn, while a further five million "have no idea" if they have more money going out than coming in. This situation is much worse for those who may have taken early retirement overeseas and have been affected by fluctuating exchange rates.

Roger Edwards, proposition director at Bright Grey, commented: "Even in an age of austerity the public's spending shows no sign of waning, as the average UK adult continues to spend beyond their means and rack up debt.

"Worryingly, has been mainly due to the average salary being far short of that needed to lead a comfortable life and those who just can't help but spend either to fund their lifestyle or just to make ends meet."

Expats aged over 55 years, who may still own a property in the UK and are concerned about their level of income, can find out how the value of their property could offer them a tax-free cash injection by taking advice from a professional equity release scheme provider.