Longer lives jeopardise equity release pensions

property

Equity release may not be enough to sustain people in retirement, according to the Society of Financ...

Equity release may not be enough to sustain people in retirement, according to the Society of Financial Advisers (Sofa), which found many people have underestimated their life expectancy. According to data from Sofa, the average UK worker underestimates their life expectancy by more than five years. Bob Bullivant, managing director of Sofa, warned that older homeowners should not rely on equity release to help them in later years if pension provisions turned out to be insufficient. Roger Hillier, product development manager at Mortgage Express, said lenders continually review product...