Friends Prov warns of equity release hype

Only 11% of people plan to sell or downsize their home in order to fund their retirement, and just 6% plan to do so via equity release. Aversion to releasing equity increases with age, the research suggests. Among respondents aged 34 to 44, 42% wanted to retire in their own home, whilst 77% of the over-65s wished to stay in their current property. "There is no doubt people still see their house as an investment, however, it is important to make the distinction between people appreciating the value of their house and actually planning to use it as an asset," Trevor Matthews, chief exec...