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Equity Release Schemes Can Help Reduce Outgoings
06/07/2010
According to the price comparison website, Unbiased.co.uk, people in the UK borrowed 37p for every pound saved in the first quarter of the year. This is a big shift from mid-2008 when Britons were spending £1.67 on debt repayments for every pound saved, indicating that savings levels have not yet recovered from the impact of the recession.
Chief executive, Karen Barrett, of Unbiased, stated that although individuals in the UK have started 2010 with a tighter grip on their finances; there does appear to also have been a drop in savings. With interest rates at an all-time low and inflation at a high level it is important for individuals to make their saving work for them, no matter how small a deposit they make each month.
Homeowners aged over 55 years who would like to know how much money the value of their property could release to help with their debts can find out by contacting therightequityrelease.co.uk for equity release advice.
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