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Will The New Budget Increase Interest In Equity Release
29/07/2010
64 per cent of workers above the age of 55 years are worried that an increase in
taxation announced in the emergency Budget would have a serious impact on their
lifestyles and savings according to Aviva's Real Retirement Report. This age group is
vulnerable to increases in VAT rates affecting food, utilities, fuel and entertainment costs.
At-retirement director for Aviva Life, Clive Bolton, stated that many individuals are concerned with the rising costs of living due to their relatively fixed incomes. This issue highlights the requirement to ensure you prepare for your retirement throughout your working life.
A report, recently published by Prudential, indicates that 32 per cent of workers will be
retiring this year on an income lower than the poverty threshold.
Homeowners aged over 55 years who are worried about the impact tax increases will have on their lifestyles 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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