Research from leading mortgage broker, Henry Dannell , reveals that 39% of over-55s who have equity release plans are unaware of what happens to their plan if they were to die.
Equity release enables older people to cash in the wealth that is tied up in their property assets. This can be done in one lump sum, or paid in a series of instalments.
Pandemic perspective driving equity release as homeowners look to avoid inheritance tax
Research from debt advisory specialists, Henry Dannell , suggests that it’s not just a quick cash hit that is driving equity release across the UK market, as a post-pandemic perspective spurs homeowners to avoid being hit by inheritance tax.
Nearly half of homeowners in England and Wales could access more funds from property wealth than the average pension pot
Homeowners in 53% of areas in England & Wales could be able to access more from the value of their home than is saved in the average pension pot (£61,930)
In March 2021, homeowners in England and Wales could release on average £72,988 worth of equity
