Historically, some people have pigeon-holed equity release as a product of last resort, however, over the past few years, it is frequently being used as a better accepted financial planning tool, a springboard to achieving retirement ambitions or an opportunity to support the wider family. Research published this week backs up this change in attitude.
Retirement aspirations and financial planning is driving equity release customer choices, with almost a third (32%) wanting more from life as they get older and 28% focused on financial planning, the latest research from Standard Life Home Finance shows.
It also found that 11% said their family and friends needed their support, while 17% said that they had always known their pensions and savings were not enough. A further 11% revealed that they considered their options as they realised their finances would not provide them with the standard of living they wanted.
For many people, their home is their largest asset, and it only makes sense to consider how this could benefit their retirement finances and/or to support their family.
Steve Padgham, Head of Mortgages at The Financial Planning Group explains that;  “As an experienced Financial Adviser, my role is always to guide borrowers towards the best solution for their exact financial needs and to show my clients every option that is available to them. We are proud of our record of helping our clients achieve greater clarity with their financial situation and, with an office in central Teddington, we are able to offer local people a bespoke service right on their doorstep.”
If you’d like to discuss the best options available to you, or a member of your family, please do not hesitate to contact Steve Padgham at The Financial Planning Group via e-mail at Steve.Padgham@fpgonline.co.uk or by calling 020 8977 7090.