Pensioners who have paid off their mortgages are among the most wealthy people in Britain, according to research by equity release specialist Key Retirement Solutions.
The value of their properties has increased by £1,120 in the past three months alone - with London retirees enjoying a near £10,000 boost, the Mail on Sunday reports. Key Retirement says homeowners aged 65 or over have seen a total of £5.3bn added to their homes' value since April. Overall, pensioners live in homes worth nearly £775bn. As many as 20,000 will tap into their homes' value this year through equity release, while greater numbers will free up cash by moving to a cheaper home. Dean Mirfin, group director, says: ‘Many feel relieved that they have the potential to unlock...
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