equity release

Call for property wealth to be added to pension dashboard

The Equity Release Council has called for the housing wealth of savers to be included in pension dashboards.  

It argues pension dashboards should give savers access to “a complete overview of their accumulated assets to make the best decision when planning how to fund their retirement”.

Downsizing versus equity release – which is best for you?

Whether you want to do up your home or help a grandchild on to the property ladder, or just need a bit more cash, tapping into the wealth built up in your property is one way to finance your plans. But with several options available, it’s important to weigh up the emotional and practical implications alongside the financial ones.

Rise in equity release driven by product innovation

According to figures from the Equity Release Council, 21,490 new equity release plans were taken out in the first half of the year, up 28 per cent from 16,805 in 2017.

This growth has been driven in part by innovation across the later life lending market, following a rise in the number of product options available, the Equity Release Council says.

Parents looking for expert guidance to give children financial help

Parents aged 55-plus desperately need financial guidance and tax incentives to help kids, according to new research from equity release adviser Key.

More than three quarters (78 per cent) would welcome tax incentives for gifting to their children for major life events, such as university fees, buying their first home or to clear debt.

‘Scandal brewing’ over undervaluation in equity release sector

Think tank the Adam Smith Institute (ASI) suggests that there is a ‘scandal brewing’ in the UK’s equity release sector, arguing that the Prudential Regulation Authority (PRA), the industry regulator, has known for years that companies’ valuation methods are inadequate but ‘only made half-hearted efforts’ to address the under-valuation problem.

Equity release surges in 2015

Homeowners borrowed a record £1.61bn through equity release schemes in 2015, according to the latest figures from the Equity Release Council.