House prices at an all-time high - Should you unlock your biggest asset?
Call 0800 085 3250 or visit www.unbiased.co.uk for your free equity release guide
Many retired people will face the dilemma of how to survive on their income whilst they have thousands of pounds locked up in their property. The average person over the age of 70 lives in a property worth more than 82,000* yet many scrape by on a state pension of 72.50** per week. Although they will not want to leave their homes or forfeit their loved ones' inheritance, they may be wondering how they can supplement their income.
With the average property having risen in value by 50% over the past four years and still rising according to recent figures***, many people will be tempted by equity release schemes, but unsure about which one (if any) is suitable for them. IFA Promotion is offering a free factsheet - Equity release, the ins and outs of unlocking money from your home. The factsheet gives clear and simple information about how to raise capital from your home and outlines the positives and negatives of the various equity release schemes.
David Elms of IFA Promotion commented, "Most people imagine their retirement as a golden period when they can live in relative comfort and realise their life-long goals. However, without a salary and often relying solely on the state pension, many will find their home by far their most valuable asset."
"An equity release scheme can be the answer but the decision cannot be taken lightly. Our factsheet provides the reader with basic information for each product available so they can approach their IFA with a better idea of the scheme that might best suit them."
To request a free factsheet - Equity Release. The ins and outs of unlocking money from your home. - along with details of three IFAs close to your home or office, call the IFA Promotion hotline on 0800 085 3250 or visit www.unbiased.co.uk
-ENDS-
Source: *Saga **DSS *** Nationwide house price index , May 2001.
For further information please contact:
| David Elms Chief Executive IFA Promotion 020 7833 3131/ 07803 603 659 david@ifap.org.uk | or | Richard Winder/ Pippa Russell Lansons Communications 020 7490 8828 richardw@lansons.com |
Notes to Editors
1. Independent Financial Adviser Promotion
Independent Financial Adviser Promotion Ltd was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents over 9,000 registered individual independent financial advisers across the UK and is sponsored by 31 leading financial institutions.
IFA Promotion's central belief is:
"Consumers have a right to financial advice that is independent of the providers of financial products - i.e. independent financial advice."
Furthermore independent financial advice should be:
- Affordable. The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.
- Convenient. IFAs should be available in the location of the consumer's choice, wherever they live in the UK.
- Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
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