High Inflation could lead to increase in lifetime mortgages

 

Expats aged between 50 and 64 years, and reliant on funds from the UK, are facing the highest rate of inflation, according to a new report.

This could see a number of people consulting equity release guide to see how the value of their homes could improve their finances.

Figures released by the Alliance Trust Research Centre have revealed that people aged between 50 and 64 years are facing an inflation rate of 4.2 per cent, 35 per cent higher than the official headline rate.

Shona Dobbie, head of the organisation, said if current trends continue the UK's pensioners could soon be worse affected.

The expert explained that the price deflation seen in clothing and audio-visual goods is being offset by the "continued pick-up" in food-price inflation.

"As a result, inflation rates facing the different age groups were relatively unchanged from July. The concern around the pick-up in food-price inflation is that if it continues it will be the over 75s in particular who will be most affected" she added.

Expats who still own a property in the UK, and who are concerned about their cost of living, can find out how the value of their property could provide them with a tax-free cash boost by seeking professional advice.