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UK economy grows by 0.5%
02/11/2011
In the third quarter of 2011 it was announced that the UK’s GDP (Growth Domestic Product) grew by 0.5%. This is a better outcome than the predicted growth of 0.4%.
However, with the manufacturing sector dropping at the fastest pace for two years during October it is expected that the GDP will drop once again before the end of the year.
This shows that the economy is still weak and although it has grown by 0.5% it can’t be forgotten that quarter 2’s figures revealed a 1.2% drop due to many factors including supply problems caused by the Japan earthquake/tsunami and the extra bank holiday due to the royal wedding.
Whilst the economy is still struggling and the UK’s GDP is still weak you may find yourself needing to free up some money for house repairs, to top up your pension or income or perhaps just so you can afford a break away.
If you are a homeowner aged 55 and over then equity release could help you. With equity release plans such as lifetime mortgages you can release funds that would otherwise be tied up in your property.
To find out more how equity release can help you contact the right equity release for expert advice.
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