Which? launches fresh attack on equity release

The latest guide - 'Care Options in Retirement' - advises that pensioners with fiscal problems should only consider equity release if there is no other option. It claims the products are very expensive, inflexible and impose severe limitations on people's choices later in life, adding that any money released from these schemes may also affect the amount of means-tested benefits people are entitled to. Which? pointed out that problems can surface when borrowers' circumstances change and some of the loan needs to be repaid prematurely, potentially leaving too little equity to buy the new pr...