Early retirement dreams are a tangible reality for Equity Release plan holders
Published: 17/11/2011
Many people fantasise about a life after work. But with so much focus on the changes to the State Pension, along with the rising cost of living and the historic low interest rate damaging savings and personal pensions, the story of the early retirement finds itself next to Cinderella, Snow White and the rest of the other fairy tales. However, with the help of an equity release plan, this whimsical fantasy could be real life happy ever after.
Whilst pensions and savings may not have reaped the expected financial benefit, property, even with the current slump, has proven financially successful. On average, a homeowner over the age of 55 owns property worth £231,306, over £70,000 more than the national average¹.
What’s more, chances are the mortgage on these properties will have been paid off, leaving a considerable sum to help support an early retirement. After all, having toiled all your life to pay it off, it is only right that this hard work pays off.
An Equity Release plan allows you to free up money from your property (either as a one-off, bulk payment or a regular income) whilst giving you the right to continue to live in your property.
For more information about the legal implications of an Equity Release plan, contact the GW Lifetime team on 0845 373 3737 or complete our online enquiry form.
Content correct at time of publication