Follow on Google News News By Tag * Equity Release * Lifetime Mortgage * Home Reversion Plan * Regulated Equity Release * Bower Retirement Services * More Tags... Industry News * Equity release * More Industries... News By Place Country(s) Industry News
Follow on Google News | Two Thirds of Pensioners will Need to Sell Home or Release Equity to Pay for Care say Lib DemsThe future role of equity release as a possible means of funding social care for pensioners has been welcomed by trade body Safe Home Income Plans (SHIP) in response to recent Lib Dem research.
By: Geoff Charles Interrogating Conservative plans for a residential social care scheme that would cost pensioners £8,000, the Liberal Democrats have called proposals “unworkable, unfair and unaffordable” Homeowners will have to sell or release equity to pay for care Liberal Democrat research has highlighted that two thirds of pensioner households do not have enough assets, excluding their homes, to pay for care at a cost of £8,000 and they have stated that homeowners would have to sell or release equity from their properties to pay for the proposed Tory scheme. Andrea Rozario, Director General of SHIP, said “With the country's over-65s currently sharing £907 billion worth of equity in their homes, equity release is a practical solution to this funding crisis,” and went on, “The use of housing equity poses a real possible solution to this complex problem.” Equity release allows care within the home Geoff Charles of Equity Release Specialists Bower Retirement Services (http://www.brsequity.co.uk) agrees with the statement from SHIP saying, “We are increasingly seeing equity released from property used to fund care or support within the home. The money released is sometimes used to pay for anything from a gardener or general help around the home to private medical care. This so the individual(s) Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration. # # # Bower Retirement Services is an FSA regulated independent financial advice company that offers specialist advice on equity release throughout the south of England. For more information e-mail info@brsequity.co.uk or call 0800 4118668. Bower Retirement Services offers a no obligation initial consultation to homeowners considering Equity Release. For more information visit http://www.brsequity.co.uk End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|