Equity release can help improve the quality of life for some people in the UK, according to an industry expert.Daniel Pearson, director at advisory service FirstStop, claimed that those who unlock the value of their property can often benefit from a more comfortable retirement.He wrote in the Guardian: "Equity release is no silver bullet but it can improve the quality of life of some older people."However, national promotion is required by organisations committed to training staff to give people the choice of specialist financial advice."FirstStop is one of two national partners promoting the Home Cash Plan, an equity release scheme designed to offer asset rich but cash poor older people the chance to release small sums of money from their property safely and easily.
The programme, which was developed by the Joseph Rowntree Foundation, aims to reassure elderly homeowners who claim benefits, that they can apply for an equity release scheme without losing their welfare entitlement.
© 2012 Adfero Ltd. All rights reserved. Any views and opinions expressed in news articles are not those of Just Retirement Limited. News supplied by Adfero DirectNews.
Customers talk about their experiences