Equity Release Improves Life in Many Ways

As houses increase in value so does the equity built up in them; and it’s that equity that older homeowners are releasing in order to improve the quality of their life in retirement.

For some, this improvement means having extra cash available to spend on regular holidays; for others it’s a way of funding a dream purchase such as a new car or motor home or even a trip of a lifetime. However, these are not the most popular reasons for releasing equity, according to new research. So, what are they?Read more

Two Ways to Boost Retirement Income

In retirement, every penny counts, and so it is unfortunate that many living on a pension could be paying far too much than necessary for services and utilities.

In spite of the media emphasis on the benefits of comparison websites, it seems that many people are failing to shop around for better deals on things like insurance, telephone tariffs and energy, preferring to stick with their existing provider. But is better the devil you know really the right course of action? If there is money to be saved then surely it is worth spending some time seeking better deals?Read more

25% Mortgaged in Retirement

According to a recent report in the Daily Mail, one in four pensioners is taking their mortgage into retirement.

A survey of 3,500 people aged 65+ reported that 27% had a mortgage and even more worryingly, the average size of that mortgage was higher amongst those over the age of 70.Read more

Britons Doubt Retirement Income will Suffice

Research conducted by Prudential has revealed that British people retiring in 2010 are expecting to be worse off than those who left work in 2009 and in 2008.

2010 retirees are anticipating an average income of £16,509 per year. In 2009, this average was £17,759 and in 2008 it was £18,663 showing decreases of 7% and 11.5% respectively.Read more

‘Ticking Time Bomb’ for Widows’ Pensions

Each year, just under 300,000 male pensioners are unwittingly denying their wives a comfortable retirement when they die because they are not taking the right advice when purchasing an annuity with their pension savings.

Labelled a ‘ticking time bomb’ by leading pensions campaigner Dr Ros Altmann, the shocking revelation could leave thousands of widows in financial difficulty in retirement.Read more

Two Thirds of Pensioners will Need to Sell Home or Release Equity to Pay for Care say Lib Dems

The future role of equity release as a possible means of funding social care for pensioners has been welcomed by trade body Safe Home Income Plans (SHIP) in response to recent Lib Dem research.

Interrogating Conservative plans for a residential social care scheme that would cost pensioners £8,000, the Liberal Democrats have called proposals ‘unworkable, unfair and unaffordable’.Read more