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Might Equity Release Help with Rise in VAT
17/01/2011
It was recently published in Aviva's quarterly retirement report that 74% of over 55s are growingly concerned about the rising cost of living. It was stated that this is the biggest concern for people close to and in retirement over the next 6 months.
Unexpected expenses are worrying 36% of over 55s, with many living month by month with no spare cash to fall back on for emergencies.
Prices will rise with the VAT increase from 17.5% to 20% which may mean that many over 55s will have to cut down on their expenditure to leave enough for an emergency fund.
However, cash can be unlocked from a property through an equity release scheme which can be used to help with finances in retirement.
What does 2011 hold for those in retirement? The VAT rise will see the cost of living soar and will make luxury items less easily accessible too, putting them completely out of reach for some retirees.
Homeowners aged over 55 years who would like to increase their retirement income and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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