Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Can an equity release plan stop the need to sell your home in the UK?

Thu 6th May 2010

Expats can sometimes feel pressured into selling their homes in the UK in order to pay for costly elderly care, it has been claimed.

The comments could inspire a number of homeowners to use an equity release scheme to release some of the value of their home in order to meet their care costs.

In an interview with the BBC, Tobias Ellwood, a Conservative candidate in the popular retirement haven of east Bournemouth, Dorset, said his party would "guarantee" care services through a new insurance scheme, which would cost £8,000.

"We are putting forward an insurance scheme so pensioners can pay £8,000 which will be match-funded by the government which would pay for their care," he told the news provider.

"People who have worked hard should not be used as a cash cow. The current system discourages people from saving and if you have no funds yourself you have to be supported by the state system much sooner."

Expats who still have a UK property can see how much cash they could generate from the value of their assets by contacting an Equity Release advisor.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs