Research from Canada Life indicates it’s increasingly being used to fund day-to-day costs rather than one-off purchases. One in five Equity Release customers use the money to fund everyday expenses, a 5% increase in the last two years.
Equity release is increasingly being used to bridge this financial gap. There is a notable shift in people’s attitude towards using their property wealth to boost their retirement income. Canada Life research found that the younger generation is three-times more open to unlocking wealth from their property in retirement compared to the older.
In short, you may release funds from your home (equity release) and gift a living inheritance to loved ones with no IHT implications. Gifting money using equity release means your family can have access to their inheritance now, quite probably when they need it most.
Sometimes equity release is one of the only options available to couples and individuals who find themselves in debt later in life. Inheritance Tax. Some choose to release equity to reduce the amount of Inheritance Tax their relatives will need to pay. They can use the cash the release or place it in trust for family members
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‘Increasingly equity release customers are able to make substantial gifts to family members including their adult children or even grandchildren with money being used to clear debts, fund university fees and pay for house deposits and weddings.
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New sources of income in later life are increasingly being sought, and this highlights the need for a rounded approach to retirement planning which considers all wealth, assets and product choices,’ said David Burrowes, chairman of the Equity Release Council.
Every day the Zacks Equity Research analysts discuss the latest. would be able to produce three times the original output with the use of machine learning. Such systems are being increasingly.
Equity release is becoming increasingly important for home owners and their retirement finances as new figures show many use it for everyday money matters. figures from canada life reveal that one in five equity release customers take out loans to bolster their day to day retirement finances.