Research from Key Retirement Solutions has demonstrated just how much of a positive impact equity release could have on the life of pensioners and their loved ones.
Retired homeowners collectively own £750 billion in unmortgaged property, with those in London and the South East of England sitting the most pretty.
A third of property in the capital and South East is owned by retirees; £125.03 billion worth in London and £121.76 billion in the South East.
As things remain tough for just about everyone, from pensioners to wannabe first time buyers, equity release could be the perfect way to make life a little easier.
Richard Espley is the Head of Equity Release at Goldsmith Williams:
“With constant negativity surrounding pensions and savings, it is reassuring to hear people have their property as a financial safety net.
“As the cost of living continues to rise, we are seeing more people drawing on their property as a means of income. Many people are still planning for a retirement in which they will finally be able to relax, take holidays and spend time spoiling their grandchildren. But with things the way they are, the retirement dream is being extinguished. Equity release offers a genuine opportunity to get those dreams back on track."