Equity release a 'last resort' - Which?

The report suggests other options may be more cost-effective, and urges pensioners with money problems to seek independent advice. Which?’s ‘Care Options in Retirement’ report says equity release schemes are expensive, inflexible and leave pensioners with little or no equity in their home. It says this can hamper plans in later life, and can affect benefit entitlements for older people. The report recommends potential equity release customers should first consider downsizing their home, using existing savings or seeking help from family members before considering using an equity release ...