Half of Brits 'know nothing about equity release'

A survey of more than 1,000 people found a fifth thought that they could take out a policy from the age of just 18. The research also found the products themselves are a mystery to customers. A third believes they would have to make monthly repayments for a policy. Almost 40% do not know that an equity release policy could affect their state benefit entitlement. A further 18% think they would have to sell up should their partner pass away. A third do not know an equity release plan could reduce their inheritance tax liabilities and a further 32% think they would have to pay tax on the...