Almost 70% of homeowners say their property will play a key role in their retirement income but a similar percentage are unwilling to downsize to access equity in their home, Aviva's latest Real Retirement Report has revealed.
Aviva's survey showed 46% of over 45s viewed their property as a key part of their retirement plans and 69% of property owners said their home is worth more than their combined pension, savings and investments. However, 23% of over 45s are also worried about being able to pay their mortgage off. Some 16% expect to borrow money in retirement and 31% plan on giving money to help their children to become a first time buyer, the study found. More than half, 56%, believe their housing wealth will be required to pay for care in later life, while 61% view it as a main part of their inheritan...
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