Asset rich- cash poor 50-plus look to equity release

Interest in equity release (getting income from your property) has soared in the last year according to new figures from Age Concern. Calls about equity release to the charity’s helpline about equity release increased by 50% in 2005, and with over 5,300 enquiries this was one of the most common issues raised by callers.

With over £1,000 billion tied-up in the homes of the over 65s and the equity release market 25 times the size it was 10 years ago, interest seems set to continue to rise.
It's a no-brainer that the market for equity release financial schemes will be massive. All we need is for the right statutory rules and some half decent products from the finance industry.Dick Stroud