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Pensioners 30bn equity release boost

Pensioners 30bn equity release boost

 



Pensioners £30bn equity release boost

Video transcript

UK pensioners have seen their properties increase in value by £33.33 billion over the past 12 months, giving them greater leeway should they wish to go down the equity release route.

Key Retirement Solutions has indicated that homes owed by people over the age of 65 are now worth £800 billion, with the average price increasing by £7,100 per house. As you may expect, London properties have increased in price the most, by some £41,200 each.

Dean Mirfin from the equity release provider remarks that "on average, retired homeowners have gained nearly £600 a month, which compared very well with every other source of retirement income".

He adds that even in areas that haven’t seen the prodigious growth of the capital, homeowners can still benefit from releasing equity, as their properties will be worth considerably more than they cost to buy 20 or 30 years ago.

Taking out an equity release plan allows you to use the money that's built up in your property for whatever reason you want. For instance, you could take a lump sum to pay for a once-in-a-lifetime holiday, get on top of your finances through debt consolidation or to help your children or grandchildren pay the deposit on their first property.

Alternatively, you could use the cash to supplement your pension through buying a lifetime annuity so that you can enjoy a higher standard of living throughout your retirement.

First Choice Finance can provide you with certain routes to release equity from your home to find out what we can do for you without obligation please visit firstchoicefinance.co.uk or give us a ring on 0333 003 1505 from a mobile or 0800 298 3000 from your landline.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



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First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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