If you were still wondering about the equity release market…
…you’ll be interested to see the number of people aged 50 and over in the UK together with growth projections to the year 2031. The figures show an expected rise from 20 million people now to over 27 million in twenty years.
Couple these figures together with the government’s life expectancy figures:
Based on 2005–07 mortality rates*, a man aged 65 could expect to live another 17.2 years, and a woman aged 65 another 19.9 years.
So, finding funding for so many years of retirement is going to become a priority for millions of people. Clearly their property is one important asset to take into account.
Be encouraged.
*Source: Office for National Statistics: Life expectancy at birth, UK, from period life tables 2005-07