(1888PressRelease)
May 09, 2007 - According to financial product research business Defaqto, high levels of equity in housing stock coupled with under-funded pensions, low annuity rates, demographic issues and pensioner debt means pensioners are turning to equity release in droves as a way of funding their retirement.
The claims were made in a Defaqto report entitled 'Equity release in the UK 2007 - lifetime mortgages and home reversions: A retirement solution'.
"A number of factors are coming together which will make equity release an increasingly sought-after retirement solution for many people," David Black, Defaqto's head of banking and the author of the report, confirmed.
"Although it remains essential that people explore alternatives to equity release as well as its possible implications, equity release will become an increasingly relevant option in future retirement planning.
"It clearly won't suit everyone but it will increasingly provide a solution for many people."
###
