Home is where the money is

The LV=2012 HIPpies survey has revealed 28% of working homeowners (1.9m people) will look to access the equity in their home to support their pension. Nearly half (49%) of homeowners over 50 say they would consider downsizing to a smaller property. A further 17% would consider using an equity release product to free up the money in their property. The findings, which were published yesterday, are based on a survey of 1,051 working adults aged 50 and over in the UK. Vanessa Owen, head of equity release at LV=, said: "With the purse strings being firmly tightened it is impossible to ...