Older homeowners are anticipating they’ll need an annual retirement income of £35,196, more than double today’s average of £17,212, a report by the Equity Release Council and Key has found.
A block of flats in Sweden is tackling loneliness by mixing age groups - and making socialising an obligation.
Retired homeowners saw their property wealth increase by more than £3,150 in the past year, analysis from UK’s leading independent equity release adviser Key shows.
Newly released research from Key has revealed that around 30% of people who are due to finish full-time work in 2020 are planning to use their property wealth to help boost their retirement income.
Seventy percent of the properties on Cognatum’s retirement estate are inherited before they are sold. The majority are inherited by the children of the owners.
Some apartments from Britain’s biggest retirement builder have dived in value due to hefty charges
Almost 14 million people in the UK plan to remain in their current home in retirement and of those an increasing percentage will use their property to generate income through equity release, a new study suggests.
Almost a quarter, some 24%, of unretired people would rather unlock equity from their property than use their pension pot to pay for care costs in later life, new research suggests.
One in six people believe that they will definitely be over 65 by the time they repay their mortgage, and another 9% have no idea when it’s going to be paid off, new research has found.
Borrowers will be able to take out new mortgages in their early 80s after a specialist lender launched new deals to meet demand from older customers.
Up to half of older home owners are using equity release to repay debt as they struggle to meet payments, a new analysis has found.
Although the Government has already taken steps to limit the impact of stamp duty on first time buyers, the property tax remains a major barrier for older home owners who want to downsize, it is suggested.
Report finds at least 630,000 will be unable to afford private rents on their pension income
Failure to plan for ageing population will also add to pressure on health and care services
The value for student housing, build to rent and retirement housing in the UK is set to quadruple in the UK, reaching a combined worth of £880 billion at full maturity, according to a new report.
It may actually make more financial sense for older people to rent rather than withdraw equity from their properties, according to Girlings Retirement Rentals.
The Equity Release Council has announced a range of initiatives at its Annual General Meeting to help firms deliver a high standard of support for home owners looking at equity release and later life financial planning.
Older borrowers stuck on interest-only mortgages have been offered what could become a lifeline by Britain's biggest building society Nationwide.
On in three home moves, about 200,000 a year are now made by owners aged 55 and over as a growing number use their huge equity reserves to find their perfect last home, according to new research.
The importance of unlocking housing wealth to meet consumer needs in later life and continuing product innovation are ensuring equity release occupies an increasingly central role in the UK, a new report shows.
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