Life mortgage spends revealed in study
www.moneynews.co.uk > General finance > Life mortgage spends revealed in study
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Money News |
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Life mortgage spends revealed in study
Wed 27th Apr 2005
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The survey further revealed that 47 per cent of mortgage holders choose to spend the additional income on a holiday, 37 per cent on adding to their current income and 35 per cent on buying a new car.
"Lifetime mortgages are popular with people who want to maintain their lifestyle after they retire," said Mark Kelly, director of Norwich Union Personal Finance
"Research we commissioned shows that many retired people would like to improve their home but do not have the money to do so."
He said that holidays and new cars are important for people who want to maintain the lifestyle in retirement that they had while they were working.
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