Steve Wilkie believes cash-poor, asset-rich retirees will increasingly look to utilise equity release. Here he outlines everything advisers need to know about lifetime mortgages
Equity release could have a greater part to play in how people finance their retirements in the future. Pension freedoms introduced on 6 April could end up enticing people to spend their pensions faster than they mean to. This is all while many have not actually saved enough into their pensions to even enjoy these greater freedoms and face an income shortfall in retirement. Their property may be the only valuable asset they have. Releasing money locked in a home is a viable option for cash-poor, asset-rich people in retirement. The advisers we speak to see equity release as a growth ...
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