The vast majority of over 65`s want to stay in their own home during retirement and taking out an equity release plan could enable them to modify it so that they can.
Figures from the Equity Release Council (ERC) show that 70 per cent of retirees don`t want to move when they finish working, but one fifth of these have been put off the idea of adapting their home to serve them better as a result of a lack of funds.
The kind of things that generally need attention are staircases, gardens and bathrooms, in the forms of things like stairlifts, raised beds and walk in baths, respectively. Most over sixty fives would prefer to dip into their savings to do this, but when that`s not an option, equity release could be.
Nigel Waterson is the chairman of the ERC, and he explains that `with many over-65s asset rich and cash poor, it is a logical step to consider releasing some of their housing equity to prolong the pleasure they take from spending their retirement years in the place they call home`.
Should you find yourself in this position, you could contact First Choice Finance, as we`re a broker that can help you find the most suitable equity release plan for your individual situation from our panel of providers. All our advice is done by telephone and post and after discussing your needs, if we can help our advisers will work on our deals to find one that matches you.
You`ll be presented with a no obligation offer which you`re free to turn down, but if you think the plan is right for you, we`ll work on getting the equity released and your funds to you as soon as possible. Find out more about our equity release options at firstchoicefinance.co.uk or call for a confidential chat on 0333 003 1505 or 0800 298 3000.
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