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Home  »News  »Finance News

'Look through an equity release guide' when planning retirement

21/04/2010

People should consider having a look at an equity release guide when planning for retirement, it has been suggested. According to Safe Home Income Plans (SHIP), equity release is not appropriate for everyone's retirement, but not considering it at all is "ridiculous". Andrea Rozario, director general at SHIP, noted that equity release can prove to be a "valuable planning tool for retirement". "If you are planning your retirement and you need to consider what assets you've got, then it makes total sense to take into account your largest asset," she said. Recent research from Bridgewater Equity Release revealed that the most popular reasons for taking out home reversion plans last year were for home improvements, to repay mortgages and for debt consolidation. Ms Rozario concluded that using released equity to pay back debts was a "worrying trend", adding that some people were using the schemes to help family members get on the property ladder for the first time. Get a free equity release guide and find out how you can get some additional income. Posted by Jez Walters.

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