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Can Equity Release Help Those Who Have Failed To Save
02/06/2010
It has been claimed that the government is not doing enough to ensure we have a savings culture here in the UK.
Those who have failed to save enough money for their retirement could see their income increased by a lifetime mortgage, which gives homeowners a regular income from the value of their property.
The director general of the Association of Independent Financial Advisors, Chris Cummings, said despite a general consensus among MPs that saving is a "good thing"; no one has set out exact plans on how to encourage it. He said, “Given the current economic challenges, we believe it is vital the new government acts decisively to restore a savings culture in the UK. We must ensure that people have the knowledge and confidence to save for their financial future. Otherwise, as a society, we will all pay a heavy price."
Homeowners aged over 55 years who would like to know how much money the value of their property could generate can find out by contacting therightequityrelease.co.uk for equity release advice.
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