Can equity release help hard-pressed pensioners?
After years of paying off your mortgage, the feelgood factor of owning your home outright may be shortlived. We can be hit by personal setbacks that cut income. Or, as we are now seeing, by an upsurge in inflation or a financial market storm. Or both.
Many retirees and those approaching that age are finding their pensions aren’t providing enough to support their needs. They face the double challenge of generating income to support longer lives, while inflationary pressures are hitting their cohort hardest by raising the cost of basic necessities such as heating the home.
Fortunately, there are more ways than ever before to raise cash from your home to cope with the cost of living —- or simply to spend on a better quality of life in retirement.
This story originally appeared on: Financial Times - Author:Moira O'Neill
