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Home owners more likely to consider equity release advice prior to retirement

More help should be focused on over 50s trying to organise their finances for retirement, according to a report commissioned by Just Retirement.

The study questioned more than 1,000 homeowners aged over 55 and found that many are unaware of the details surrounding equity release plans and safeguards. Homeowners are more likely to consider professional advice on equity release in the run-up to retirement.

Just Retirement’s group director of external affairs and customer insight Stephen Lowe says: “The run-up to retirement is a time when people look at their finances carefully and start planning how best to use or pass on their wealth. Increasingly, for baby boomers who have benefited from rising house prices, that involves looking at how best to use the wealth tied up in their homes.

“For many of today’s retirees, their property value will account for a significant – and for some with small pensions – the most significant proportion of their overall wealth. It is available to be used or passed on at some point so it needs to be factored into the retirement planning conversation, ideally from an early stage.”

The percentage of respondents who cited professional advisors as the preferred source of information was 19 per cent but this figure jumps to 39 per cent if they are a year away from retirement. For those one to two years away from retirement, it was 36 per cent.


MI buys up FYB Network

Mortgage Intelligence last week bought mortgage network Life and Easy, which trades as FYB Network. FYB, which has around 50 advisers, will join the Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings. MI would not disclose how much the deal was worth. MIH managing director Sally Laker says: “FYB have […]

FOS sees increase in consumers submitting own PPI complaints

The Financial Ombudsman Service last week revealed it had seen a shift away from the use of claims management companies, with half of payment protection insurance complaints referred directly by consumers. The FOS has published its latest complaint data today showing the most complained about firms between 1 January and 30 June this year. It […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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