Why do people use equity release?
House prices have increased in value over the last 30years, pensions have decreased in value and saving interest has almost disappeared. Many people took out interest only mortgages in the late 1980s and have now realised that the endowment won’t pay off their mortgage. They now need a means of repaying them. Credit card debt has increased and the average debt in the UK is now £15,400. Debt management plans don’t solve the problem; they only delay them.


Other uses are to pay for long-term care at home; help with washing and dressing and shopping. Or services including gardening, cleaning, ironing. Gifting to children, holidays and just general living expenses.
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