23rd June 2016
At the same time, people are living longer, with almost 18% of the UK population over 65. By 2050, this is expected to rise to roughly 24%.
This creates two financial problems - the older generation will have to make their savings stretch further, and the younger generation will have to wait a lot longer before they inherit whatever is left. This financial conundrum therefore centres on older, asset-rich but savings-poor individuals, together with their children and grandchildren, who perhaps still have student debt and who cannot get onto the housing ladder.
Whilst the UK population is poor at saving, its residential property is something that continues to increase in value. Thirty years ago, the average UK house price was £35,647; now it is £197,044. I feel that we should all consider what part equity release can play in retirement planning, given that, for most people, your home represents a huge percentage of your overall wealth.
Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back
We will be in touch as soon as possible to arrange a convenient time for a meeting, which is completely free of charge and without obligation.
I'll be in touch as soon as possible. If you'd rather call me in the meantime, please feel free to give me a call on 01489 45 45 45