No matter how hard you work in life, by the time retirement comes around you start to realise that what you get out in terms of pension does not really match the effort that you have put in over the years. And combined with dwindling savings being commonplace, retirement for many is not as rosy a prospect as it once was. But worry not. If you own your own home and are aged over 55, with equity release, you still could have that retirement you have always dreamt of. Thanks to UK equity release schemes such as a lifetime mortgage or home reversion plan, you could be looking at a decent cash lump sum or a regular draw down income to enjoy in retirement exactly how you please. …
Tag: drawdown equity release plan
Financial Solutions Not Far Away With Equity Release
Money experts agree it’s not always easy to make ends meet these days, but for many homeowners there could be a solution: it may be possible to free up tax free cash from a property by making the most of an equity release plan. If you qualify for a home reversion plan or lifetime mortgage you may have a golden opportunity to gain a financial boost in retirement. It may be that you’re looking to consolidate some existing debts on loans or credit cards perhaps, or maybe you are hoping to give a helping hand to members of your family who could do with a bit of extra help. …
Equity Release an Option to Fight Poverty in Retirement
A report from the Office of National Statistics (ONS) has worryingly revealed that most single pensioners living in the UK are forced to live on just £27 per day, which works out to under £10,000 per year. As a result, rather than enjoying retirement, many pensioners are forced to work or face constant financial pressures as they grow older. …