Blueberry Mortgages are reporting Equity Release continuing to a sensible recommendation for older homeowners to consider utilising the equity tied up in their home to obtain some extra cash in retirement.
The funds can be used for home improvements, fund care costs, help family struggling financially, or pay off debt.
With the adverse publicity surrounding the NHS waiting times for ‘non-urgent’ procedures, we are seeing a noticeable increase in enquiries relating to equity release for private medical funding.
We only recommend lenders that are members of the Equity Release Council with access to exclusive rates with key lenders.
As advisers we have a part to play in preparing our clients, as best we can, to weather the continuing cost of living crisis. The crisis is very real straining household budgets; planning is crucial; 2023 will present further challenges to already strained household finances.
Taking a forward thinking approach with our clients is sensible and supporting them ‘getting the house in order’ is essential, wherever possible. Particularly for older people who might not have considered that they are able to release additional cash in retirement from their property; it is also important to not permit ourselves to be blinkered or biased in our opinion of equity release.
While it is not suitable for everyone, for some clients, it could be entirely appropriate – it might be the difference between remaining warm and fed, or not. Quality of life, in the here and now, is arguably more important than leaving a legacy behind when we are gone.
For more information see Equity Release Mortgages | Blueberry Mortgages
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