Safe Home Income Plans (SHIP), which represents most of the companies in the equity release market, has published its response to a paper produced by the Pensions Policy Institute regarding the housing sector’s ability to support retirement.
Andrea Rozario, director general of SHIP, said that it has "long championed" the use of equity release to fund retirement.
"Currently, pensioners can access £251 billion worth of housing wealth and this is set to grow to £359 billion by 2030," she added.
"Proper consideration of this market and its potential must be a priority for all stakeholders."
Ms Rozario also claimed that more than two-thirds of people wanted to "enjoy life" and not worry about inheritance.
Those who are worrying about exactly how they may fund their retirement may not have considered equity release before.
However, it is well worth thinking about, as it can help provide a great source of income for anyone facing up to their retirement years without a solid financial base.
By Steve Leng
