Lease for Life calculator
Many people choose to retire by the sea. They quickly integrate into the community and with more time to themselves they enjoy improving their home and tending their gardens.
With the perennial popularity of these areas, house prices are buoyant and they build up substantial equity in their homes – the average retired person has housing equity worth over £260,000.
But when they need some extra cash, their attachment to their homes means they just don’t want to move and downsize. Equity release can allow them to stay in their home and raise a lump sum or an income.
After Bognor Regis, Spalding and Kings Lynn, the most popular equity release spots judged on plans per 10,000 were: Deal (36.2), Bedford (18.2), Kidderminster (17.7) and Norwich (16.6).