Raising awareness of equity release innovation
Mortgage Finance Gazette reports “It comes following a survey by the lender which revealed over half of adult children were worried about their parents’ finances.
Many were concerned the state of their parents’ finances would prevent them fully enjoying retirement and that they might run out of money altogether. Meeting later life cost, such as care, was also a fear of many adult children.
However, nearly a third said they would be happy for the parents to downsize in order to support their financial difficulties, and 21% said they would be keen to see their parents release equity from their property”. Read more