Timing of Equity Release

Equity release can be taken at any age from 55 upwards.

However there are certain times that trigger the need and these include –

Retirement

The reduction of income is a clear time when equity release may be considered.

Many people carry mortgages or other debts into retirement and, for them, equity release can be a necessary step to make retirement affordable.

Post retirement

This sounds vague but some clients find that their pension lump sum lasts a limited number of years at which time they want to release equity to maintain their quality of life.

Being widowed

Men’s life expectancy is lower than that of women and the man is often the older of a married couple.

This means there are a lot of widows in this age group.

Add to this the fact of working life, especially for the generations now retired, that the husband would have been the main breadwinner and therefore he accrued the majority of pension rights.

Most pensions have reduced widow’s pensions of 50% of 66%, some even have none.

This means that many widows are living on a lower income than they have ever had to before.

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