One-in-eight over-40s would consider equity release - Canada Life

28% wary of 'bad reputation'

Tom Ellis
clock • 1 min read

Around one-in-eight (12%) UK homeowners aged 40 and above would consider releasing equity from their house to increase the income they have for retirement, according to a survey of 1,020 UK homeowners.

The average age the respondents think they would consider doing so was 66, the research from Canada Life suggested.  "For many homeowners, equity release can be an effective way to fund retirement, or simply boost income, while allowing them to stay in their forever homes and enjoy the retirement lifestyle they have wished for," said Alice Watson, head of marketing, insurance at Canada Life.  Typically in the UK, the minimum age for an individual to be eligible for equity release is 55. Those younger often consider re-mortgaging to liquidise capital. But younger homeowners, those 40+,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read
PA360: The 'human' element of retirement planning becoming ever more important

PA360: The 'human' element of retirement planning becoming ever more important

Retirement panel on client-centric approaches

Isabel Baxter
clock 02 May 2025 • 3 min read