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Equity Release To Reduce Debts
26/08/2010
It has recently been revealed by Age UK that more pensioners are cashing in on the value of their properties to pay off debts or else fund a more comfortable retirement.
In 2009 it was revealed by the Bank of England that UK homeowners increased the value of their stake by more than £22million
Age UK's charity director, Michelle Mitchell stated that equity release is a good way to ease financial pressures in later life. Those who are considering an equity release policy should however seek financial advice.
The chairman of the equity release trade body SHIP, Laurie Edmans stated that the feedback received on equity release is promising as there is a high level of satisfaction amongst customers that have taken out equity release policies.
Homeowners aged over 55 years who would like to know how much money the value of their property could release to help them with their debts, can find out by contacting therightequityrelease.co.uk for equity release advice.
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