(1888PressRelease)
May 25, 2007 - Sarah Horner, a spokesperson for insurer Norwich Union, said that while it was still advisable to check with friends and family before releasing equity on a home, attitudes are now such that children in particular no longer begrudge their parents spending what could be regarded as their inheritance.
Ms Horner speculated that, far from being aggrieved, many children were supportive of their parents' decisions to release equity, reasoning that they deserve the right to a happy retirement.
Meanwhile, the escalating pensions crisis is forcing more and more to consider the option, she said.
"We are seeing that it is becoming more acceptable," Ms Horner commented.
"We have had new regulations come in this April to regulate home reversion plans. People are generally more comfortable with [equity release] than they used to be - and we have got the pensions crisis. It is safe to say that it is becoming a more accepted way of looking at [retirement].
"People are discussing equity release with their families and nine times out of ten their children are saying: 'You've put the money in to the house, we want you to enjoy your retirement.' This is an extra way of doing it."
Director of National Homebuyers Julian King comments: "More and more people are contacting us about our Sell and Rent Back solution as we ensure a guaranteed sale and tenancy of each property.
"National Homebuyers allows homeowners to sell their home, thus releasing the equity tied-up in the bricks, but we also ensure that the homeowner remains living in their home as a tenant.
"Unlike an Equity Release scheme, our solution can provide up to 100% of the full market value of the property, we do not take any 'commissions', you are not tied into a 'scheme' or 'plan' and you will not lose any income benefits as a result. It is important that people realise that there is an option available that betters the majority of Equity Release schemes available".
For further information on releasing equity in your home, please contact National Homebuyers on 0870 979 8118 or visit www.nationalhomebuyers.co.uk/sellandrentback.html
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