Rise in Popularity of Equity Release Partially Driven By Demographic Trends
Aug 16, 2022
London, UK - August 16, 2022 —
Demographic changes mean that more people are turning to their property to support their retirement goals, according to the experts at EveryInvestor. One of the financial advisors at the company stated that retirement journeys are far more complex than they were in the past. The problem most retirees face is that their final salary pensions aren’t as generous as they once were, while an increasing number of people start saving later on in life, or they may rent for longer than they would have in the past.
“The demographic changes mean that there are more people likely turning to their property, to support their lifestyle and travel after retirement.” Suggests EveryInvestor’s analyst.
It’s estimated that a third of people over 55 with private pension savings were also planning to release equity from their primary residence as part of funding their retirement. They could use equity release, a lifetime mortgage, or a RIO mortgage.
An independent study amongst 500 Britons between the ages of 55 and 65 showed that 35% of those who had higher incomes (higher than £50,000) were more likely to consider releasing equity when using their homes to fund their retirement lifestyle.
However, out of those earning less, i.e., under £50,000, 33% would consider equity release, with those making under £20k less likely to consider it an option.
Readers can find out more about EveryInvestor by visiting the company’s official website at https://everyinvestor.co.uk.
“Thanks to modern equity release products, people have the flexibility and increased accessibility that allows homeowners and families to enjoy their hard-earned money after retirement. However, since equity release is a lifelong decision for many people post-retirement, it’s essential that everyone seek professional financial advice and talk through the entire process with people whom they love before signing up for it.” Said an expert at EveryInvestor.
She added, “We make every possible effort to educate people about equity release with an unbiased approach, keeping their best interests at the forefront of our discussion. That’s why anyone who is nearing retirement may want to consult with us before deciding on what will work best for them.”
About EveryInvestor
EveryInvestor specialises in providing consultation and financial advice to people about to retire.
The company has years of experience consulting on matters such as retirement spending and equity release. Over the years, EveryInvestor has worked with dozens of people across the UK, finding the right solution to their financial goals.
Contact Info:
Name: Mark
Email: Send Email
Organization: EveryInvestor
Address: Building 98485 Box 6945 London United Kingdom W1A 6US
Website: https://everyinvestor.co.uk/
Release ID: 89079773
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