The Liberal Democrats have called on the government to consider the creation of stakeholder products for equity release though NS&I, in an attempt to help the ‘asset rich, income poor' sections of society.
Commenting ahead of Wednesday’s Budget, Dr Vince Cable, Liberal Democrat Shadow Chancellor of the Exchequer, outlined possible solutions to both this issue and the current ‘housing bubble’, but stopped short of explaining exactly how they would work. Cable points out around 6-10% of Band E - H council tax payers are estimated to fall into this ‘asset rich and income poor’ sector, yet only 2% of housing wealth has currently been advanced through equity release products. He suggests although many people are not aware of equity release, those who do think about it probably worry about trus...
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