Seven million homeowners say they will use their property to supplement their pensions, according to Fool.co.uk.
A survey conducted by Fool.co.uk found that two in seven homeowners are planning to use equity release schemes when they retire.
The research also found that a quarter of homeowners surveyed would cut their pension contributions to make mortgage payments because they think they will make up for it with rising property prices.
David Kuo, head of personal finance at Fool.co.uk, says: “Given the housing boom of the last few years it's not surprising that some people have turned their backs on traditional pensions and focused instead on the value of their homes.
“However, it is vitally important to maintain a proper balance to ensure that we are not overly dependent on any one investment.”
Fool.co.uk claims those aged between 42 and 57 are the most likely to reduce their pension contributions because of property investments.
The research also found that half of those surveyed plan to downsize their homes when they retire in order to supplement their income.
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Equates to seven million people
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Still 66% women in lower quartile
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