Dominic Fraser-Smith looks at the need for further education when it comes to equity release
On the face of it, advising on equity release should be relatively simple - just look at the figures. There are over eight million UK pensioners (source: Office of National Statistics), many of them sitting on unmortgaged housing equity. At the same time, this older generation is suffering from savings income that has fallen, insufficient pension provision and a pensioner inflation of around 5.9% (estimated at 3% higher than the official Consumer Price Index (CPI) of 2.9%). So, helping this segment to use the equity in their properties to improve their financial situation would seem a logic...
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