Equity release 'an option for retirement'

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Equity release 'an option for retirement'

People hoping to have a more comfortable retirement might like to look into the possibilities afforded by equity release, it has been claimed.

Matthew Rich, independent financial planner at Alan Seward Financial Services, said there are two main types of people that consider this course of action - those who are hoping to release funds to help their loved ones and those who simply do not have a big enough nest egg built up to fund their lifestyles after they finish work.

He commented: "Increasing longevity, the desire to remain in your own home, high care costs, low investment returns over the last ten years and low interest rates means releasing cash from your home may be the only option for a pleasant retirement."

However, David Wright, managing director at Sixty Plus, recently argued that downsizing can be a more difficult prospect for Brits than many people realise.

He claimed the stress and expense of moving can be greater than people think, as many people have an emotional attachment to their property.

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