We have some brilliant bakers at Equilaw and the Halloween Bake Off was certainly an event to show off our skills. Here is a selection of what our staff created: Every year we take Halloween to new levels with our decorate your desk competition – this year we had, witches, zombies, clowns, vampires, a creepy […]
AS INFLATION hits a five-year high millions of older people living on fixed incomes are facing a further financial squeeze. Life in retirement is getting more expensive, costing an average of £10,830 a year, according to new analysis from over-55s financial specialist Key Retirement.
The implications for British society of the rising costs of elderly care are widespread. The recent general election result was partly attributed to the so-called ‘dementia tax’, and in years to come it is possible that a flurry of negligence allegations may arise indirectly from the problem.
Once seen as a last resort, the use of specialist, later-life mortgages is increasingly common among well-off homeowners keen to fund “living inheritances” and avoid death duties.
The third quarter of 2017 saw a £2bn increase in the potential amount of wealth available to over-55s in the UK through equity release, according to Retirement Advantage research.
Thousands of retirees are taking cash out of properties as they don’t have enough to live on.
The number of retirees aged 75 to 84 taking out so-called equity release loans shot up 48 per cent in the past year.
The number of people affected by dementia is set to double over the next 25 years. Retirement savers are increasingly concerned about the risk of not being able to control their finances because of the onset of dementia but are failing to act.
The number of equity release mortgages available to older homeowners keen to enjoy their later years using cash tied up in their homes has tripled in the last 10 years, according to new figures from the Equity Release Council.
Some older homeowners are put off the idea of releasing equity from their properties because they are worried it will mean they will have to stay in the same home for the remainder of their life.
Equity release is booming, with older people withdrawing almost £8m a day from their homes, it emerged this week. And there are more schemes than ever available to over-55s looking to unlock the value tied up in their property so they can, for example, pay off their interest-only mortgage.