Equity release mortgage deals could fill the pension shortfall gap.
Recent research has revealed a growing interest in equity release mortgage deals by UK home-owners. Around 80 per cent of advisers questioned believe that such products are likely to become mainstream during the next few years as demand increases.
Equity release mortgage deals are predicted to become a significant growth area with brokers such as Deal Direct already reporting an increase in home-owner interest through pension shortfall.
It is believed that the number of home-owners needing to repay their mortgage at the end of the term, settle long term debts upon retirement or fund long term care in old age could drive up the demand for equity release in the years to come.
There has been a change from equity release being used to fund such luxuries such as holidays to now covering the challenge of funding the day today cost of living. Such products are predicted become a more important method of supplementing retirement.
Property for many is their greatest asset. If you are interested in an equity release mortgage contact Deal Direct now and our skilled brokers can advise you on the pros and cons of such a deal.
For up to date mortgage advice and the best rates on offer contact Deal Direct today.
