Feb 2 2009
Demand for equity release is set to grow in the UK as life expectancies rise, it has been suggested.
According to Fairinvestment.co.uk, life expectancies in Britain have been extended by an average of 20 per cent over the last 20 years.
In addition to such rises, the falls in pension values being seen as a result of the economic downturn are cited by Fairinvestment.co.uk as a reason for an increase in the popularity of equity release.
Chartered financial planner at Fairinvestment.co.uk Sharon Bratley said: "Reduced income in retirement could mean that taking advantage of the equity built up in the property could become a real consideration for many."
Recently, Just Retirement suggested that there will be a rise in demand for equity release products as a result of the recession.
It said that the "market turmoil" seen recently will mean that many savers will find their funds to be lower that they would have hoped for.
