Transport costs have increased by 11 per cent while the disposable income of UK households has fallen in the same period, according to new research.
This could inspire a number of people to take out an equity release plan, which could provide them with a lump sum or regular income through the value of their property assets.
Figures from the latest Income Tracker from Asda Financial Services have revealed that while transport costs have increased by 11 per cent, the disposable income for UK households has fallen by £32 per month.
In a bid to ease the burden of transport costs, Asda has further reduced the price of its fuel with unleaded and diesel costing no more than 113.9p and 116.9p respectively.
Charles Davis, the centre for economics and business research economist who compiles the Income Tracker report for Asda, said: "The cost of living has continued to rise, with sterling depreciation and commodity price rises playing a key role.
"The rise in inflation above target caused a small annual decline in the Asda Income Tracker for the third time in five months."
Homeowners who are concerned about the rising cost of transport can find out how the value of their property could boost their income by contacting Key Retirement Solutions.
Posted by Alison Stephenson 
