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Homeowners don’t use homes for retirement income

To help more homeowners consider a potential source of additional income, Age UK Enterprises has launched an Equity Release Advice Service in partnership with Just Retirement Solutions.

Gordon Morris, Managing Director of Age UK Enterprises said: ‘Many people reach retirement and realise that the state pension will not provide the comfortable lifestyle that they had hoped for. During their working lives, they will have worked hard to pay off a mortgage and it may be that when they retire, their home can be used to supplement a meagre pension.

Gordon added: ‘We designed the Age UK Equity Release Advice Service to ensure customers are able to pass on some of the value of their home to family if they wish. The service can also allow people to release sums as low as £500 and includes advice to ensure that people only consider purchasing equity release if it is appropriate for them.’

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