The present recession has encouraged individuals to think seriously about their long term financial well-being and retirement planning.. Recent research has shown that many adults from all walks of life confront future financial hardship unless they seriously start to plan ahead. Financial pressures are growing for the millions of retired pensioners who, despite their retirement planning struggle to satisfy rising day to day living prices. The need for financial guidance has never been greater, yet a distressing number of individuals are placing their heads in the sand over retirement planning. As such, there are two main ways of using equity release: by incorporating lifetime mortgage or a house reversion plan into their retirement planning, homeowners can access added income and used for a variety of purposes. Are you looking about Pension Advisor? Visit the previously discussed site.
By letting you sell all or part of your own home to a house reversion supplier in return for a cash lump sum or monthly income, home reversion plans work. What’s more, there is a guarantee that you could stay in your home until you move out or pass away. While, a lifetime mortgage allows you borrow against the worth of the property and to keep full ownership of the property. And when the house is eventuality sold, the lifetime mortgage supplier is then refunded. Growing amounts realise that this is a possible approach to get the most from their retirement planning.
Solicitors came a close second, followed by accountants and financial advisers. Solicitors are more highly favoured by women than men, while men, more than women, prefer accountants. The recent equity release study also demonstrated that many people prefer to seek guidance face-to-face, with over half of all consumers surveyed preferring to receive this guidance in an office in place of at home. Just an incredibly small percentage selected to be given guidance over the phone. As we see growing quantities of individuals incorporating equity release into their retirement planning – through lifetime mortgages and house reversion – it is important that they consider requesting financial advice from a suitably qualified equity release specialist.