‘Homeowners’ News

Equity release proving more popular

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Posted 2008-01-13

The amount of UK homeowners taking equity out of their homes is growing. Many Britons are turning to equity release in order to increase their disposable income. Mark Gattenby, financial services director of Help the Aged subsidiary intone believes that many are turning to equity release to keep up with mortgage and credit card debts, he also urged potential equity release customers to seek advice: “It is true to say that there is a general lack of understanding of equity release with the general public. As equity release is a major financial decision we would always encourage the public to seek independent advice from a specialist before proceeding.” Business Development director of Key Retirement Solutions Dean Mirfin echoed these thoughts: “Retired homeowners should talk to advisers to ensure they do not end up paying too much for equity release plans. [However], providers looking for sales are unlikely to point retirees in the direction of the best deals available.” ...

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