The UK is known for being a nation of homeowners, but using a home to fund retirement through products such as later life mortgages are often frowned upon. However, they are now not seen to be ‘the last resort’ for the over 55’s. They are regulated and schemes are flexible. You could unlock a % of your home to ensure that some property inheritance is passed down to loved ones.
Increasing house prices has caused an emerging group of ‘Asset-affluent’ people, who might not lead extravagant lifestyles or have large incomes, so why not use some of this wealth to enjoy retirement fully?
Another option could be to downsize but with this can be an expensive and stressful process. Many people prefer to stay in their current homes.
As Independent Financial Advisors, we are able to see the bigger financial picture and make recommendations that are suitable to your situation. Contact us for further advice on 01803 873978 or use the form below:
Authorised and regulated by the Financial Conduct Authority. Mortgages on and equity released from you home will be secured against it.