'Three types of pensioner' who want equity release

Money News

www.moneynews.co.uk > General finance > 'Three types of pensioner' who want equity release

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

'Three types of pensioner' who want equity release

There are three types of people who apply for equity release on their property, according to an industry insider.

Dean Mirfin, group director of Key Retirement Solutions, claimed that some people need the money simply to pay their bills and keep them going from day to day.

The second type is the person who wants their current lifestyle to continue but their savings have run out and the third group are those who have big plans such as a dream holiday, he said.

Mr Mirfin commented that all three uses for equity are valid, but he has found that many people in the first group do not seem to know it can be utilised for everyday purposes.

"But while there is potential equity of more than £600 billion out there, not everyone wants to release that equity," he added.

He made his comments in response to the release of Prudential's Equity Release Index, which showed that pensioners in England and Wales have £611 billion in equity in their homes and property.

Click here for more general finance newsADNFCR-323-ID-19356195-ADNFCR

Related News : General finance

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet