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Could a lifetime mortgage help pay for pensioner travel plans?

Wed 14th Jul 2010

An increasing number of older people in the UK are deciding to travel the world, and even relocate abroad for lengthy periods it has been suggested.

This could inspire a number of people to find out how an equity release scheme could free up some of the cash tied up in their property in the UK to pay for a trip abroad, or for longer term accomodation.

Recently-released figures from Age Concern Enterprises have revealed that people aged over 65 years are travelling further afield and taking a number of trips in a single year. Many even choose to spend an entire Winter, or longer, in a better climate.

The firm said that 2009 saw a record take-up of its annual European and worldwide travel insurance policies for people over the age of 65 years.

Joe Young from Age Concern Insurance Services said: "Globe-trotting is no longer the reserve of the young. Over-65s are as likely to be travelling the world as younger generations as they search for ways to bring excitement to retirement.

"And as the population ages, we predict a travel boom which will see even more mature people exploring far-flung destinations."

Older homeowners in the UK who are curious about how the value of their property could provide them with enough cash for a much-needed trip can find out by seeking advice from a reputable scheme provider.

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