It is "ridiculous" to not consider equity release plans as an option when looking to boost retirement funds.
This is the view of Andrea Rozario, director general at Safe Home Income Plans (SHIP), who said equity release schemes, which can provide homeowners with a regular income taken from their property assets, are a "logical" choice when planning retirement.
Commenting on recent research by Key Retirement Solutions, Ms Rozario noted that people are increasingly looking into lifetime mortgages and other equity release products to provide funds to go on holiday, treat family and friends and assist younger family members in getting a foot on the property ladder.
"If you are planning your retirement and you need to consider what assets you’ve got, then it makes total sense to take into account your largest asset," she said.
"We have always maintained that equity release is not right for everybody, but it seems ridiculous not to take it into consideration along with all of your other options. It is a valuable planning tool for retirement."
Homeowners who are keen to see how much cash they could generate from the value of their property can find out with Key Retirement Solutionsequity release calculator.
Posted by Tom Papworth
