New figures released from the Equity Release Council show that borrowers aged 55 and over, released a record amount of equity from their homes in the last quarter of 2015.
More and more customers are choosing to withdraw money out of their property to enable them to maintain their standard of living, help relatives get on the housing ladder and increase their income in retirement. Nigel Waterson, Chairman of the Equity Release Council commented “ These year-end figures are the latest sign of growing reliance on housing wealth as a key pillar of later life financial planning. The rising popularity of drawdown equity release mortgages has been one of the success stories of the last decade”.
Lyn Liness, one of our Mortgage and Equity Release Specialists says “housing wealth is often peoples greatest asset and it makes sense for every homeowner over 55 to consider their home as part of the overall retirement and estate planning. However it is not suitable for everyone so please come and meet with us so we can discuss your options and help you decide if the products available in the marketplace are suitable for you. Family members and adult children are always welcome to accompany you to our meeting so everyone is open to the options available to you”.
Derek Pearce, Partner and head of financial service at Poole Townsend says, “Financial planning is an ever changing landscape and people need to consider all their options when looking to the future. We are lucky here at Poole Townsend to have a very experienced and qualified team of advisers. These include two equity release mortgage specialist Lyn and Caroline and also our senior investment adviser Marie Woodward who is one of a small band of individuals with accreditation from the Society of Later Life Advisors (SOLLA)”. Derek continues “This along with our vast legal and property knowledge puts us at the forefront of offering advice in this sector all under one roof”.
If you would like to come and have a no obligation chat, please contact any of our offices and ask to speak to our Equity Release Specialists Lyn Liness or Caroline Pearce.