'Later Life Lending' (Equity Release) Mortgages
The cost of living continues to impact households and has done so since early 2021 with inflation reaching its highest recorded level in decades. Consumer prices, inflation and energy prices remain a worry for many people, however, there is light at the end of the tunnel. Equity Release is a viable solution for clients who would like to raise extra cash in retirement.
If you want to make home improvements, pay for the costs of care, help a loved one who is struggling financially, or pay off other debt, Equity Release should be considered. But in the context of the current economic climate, it could be utilised to shore up your income to combat the cost of living both now and throughout the remainder of your retirement. Many clients over the age of 55 find themselves ‘asset rich and cash poor’ with their pensions real value deteriorating against the cost of living.