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Home equity facelift: tapping into the equity in your home could help you improve your retirement, but it isn't something to rush into says What Investment.(Home equity release)
From:
What Investment
| Date:
October 1, 2003
| COPYRIGHT 2003 Charterhouse Communications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Most people look forward to retirement, a time of no work and plenty of opportunities to do your oval thing. But doing your own thing can be expensive, and unless you've planned carefully you may find that before too many years have passed you're feeling the pinch. Staying at home is one option, but using that home to fund a more exciting lifestyle is another.
Equity release offers homeowners the chance to stay in their property while tapping into the equity that has bui...
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Equity release can be attractive, but caution is needed
Western Morning News, The Plymouth (UK)
; An increasing number of people are considering home equity release plans as a solution to being asset rich but income or cash poor. You can hardly open the financial pages of national papers without seeing an advertisement extolling the benefits of equity release. There is no doubt such plans can
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Home equity facelift: tapping into the equity in your home could help you improve your retirement, but it isn't something to rush into says What Investment.(Home equity release)
What Investment
; ... enough to pay back the capital and interest with much more to spare, or there may be little left once the debt is clear. The good news is the amount you owe should never be more than the value of the property as most scheme providers, and certainly all members ...
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Equity release schemes slammed; Over-60s currently draw about pounds 1.3 billion a year out of their bricks and mortar - to finance holidays, conservatories, new cars, facelifts and sometimes even basic essentials.(Business)
The Birmingham Post (England)
; Byline: By Jeremy Gates Special Correspondent Many elderly people banking on using their homes to boost retirement income will be quaking in their boots after a strong attack on equity release in the latest issue of Which? magazine. Equity release was similarly mired in scandal a decade or so ago,
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MONEY: There's treasure buried in your bricks and mortar But for pensioners, equity release schemes could either be a godsend or a curse, says Melanie Bien
The Independent on Sunday
; ... supplementing income other than working well into retirement, moving to a smaller property or slipping into debt. "The great news is that we are all living longer," says Paul Stokes, head of marketing at Norwich Union, "but this comes with an additional cost ...
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Be wary of equity release.
The Daily Mail (London, England)
; Byline: JUSTIN HARPER BRITAIN'S biggest building society has called for a crackdown on schemes which allow people to unlock the equity in their home. Equity release schemes are growing in popularity among older people wanting to use the rise in the value of their property to provide an income in
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