Equity Release the Answer to Poor Pension Pots
According to Legal & General, 34% of pension pots are worth less than £10,000. A worryingly low figure when you consider that even the average pot, worth £25,000, won't get pensioners much more than £1250 per year once it's been used to purchase an annuity, the rates of which are currently very low.
For those with other ways of financing their retirement this may not pose such a problem; however most people will consider their annuity their main income source.
So, if there is no final salary pension, no substantial savings and you really don't want to carry on working when actually you had fancied taking some time to do the things you'd always wanted to do, how do you envisage having enough to live on in retirement?
If you are a homeowner aged 55 or over, you could consider unlocking the potential of that asset you have spent your working life paying into: your property. It is more than likely that your property has increased in value quite considerably since you bought it. And so there is probably cash sitting there waiting to be put to good use.
Unlock Tax Free Cash from your Home
This cash can be unlocked, tax free, through a lifetime mortgage or home reversion plan, both types of equity release.
Many retirees are enjoying the lives they looked forward to thanks to equity release; spending time with family, treating the grandchildren, taking regular holidays, making improvements to the home, taking plenty of time out for leisure and splashing out on anything from a new car to a garden makeover.
A lifetime mortgage or home reversion plan is a safe option provided independent specialist advice is taken and a plan approved by Safe Home Income Plans (SHIP) is selected, or one with the same guarantees. These guarantees are there for your safety and it's worth taking the time to find out more about them.
If you are in the position where you've realised your pension pot is going to net you far less than you expected, speak to an equity release adviser about unleashing the potential of your home; that dream of an idyllic retirement could well come true after all.
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration.
For those with other ways of financing their retirement this may not pose such a problem; however most people will consider their annuity their main income source.
So, if there is no final salary pension, no substantial savings and you really don't want to carry on working when actually you had fancied taking some time to do the things you'd always wanted to do, how do you envisage having enough to live on in retirement?
If you are a homeowner aged 55 or over, you could consider unlocking the potential of that asset you have spent your working life paying into: your property. It is more than likely that your property has increased in value quite considerably since you bought it. And so there is probably cash sitting there waiting to be put to good use.
Unlock Tax Free Cash from your Home
This cash can be unlocked, tax free, through a lifetime mortgage or home reversion plan, both types of equity release.
Many retirees are enjoying the lives they looked forward to thanks to equity release; spending time with family, treating the grandchildren, taking regular holidays, making improvements to the home, taking plenty of time out for leisure and splashing out on anything from a new car to a garden makeover.
A lifetime mortgage or home reversion plan is a safe option provided independent specialist advice is taken and a plan approved by Safe Home Income Plans (SHIP) is selected, or one with the same guarantees. These guarantees are there for your safety and it's worth taking the time to find out more about them.
If you are in the position where you've realised your pension pot is going to net you far less than you expected, speak to an equity release adviser about unleashing the potential of your home; that dream of an idyllic retirement could well come true after all.
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration.
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