5
Nov
Homeowners look for houses for sale to fund retirement
Homeowners could be tempted to purchase new houses for sale in
order to fund their retirement.
Figures released earlier this week by Friends Provident revealed
that 11 per cent of Britons are planning on purchasing smaller
properties for sale.
This will help them to release equity on their larger asset, so
that they can fund their retirement plans.
Research also showed that 32 per cent of Brits do not have a
pension plan in place, which may mean that this figure could rise
in the future.
Speaking on the findings, chief executive of Friends Provident
Holdings (UK) Trevor Matthews said: "With increased longevity and
the decline of final salary schemes, it is clear that in the future
many people will need to consider how they can release some of the
value from their house."
He added that people "still see their house as an
investment".
Homeowners who are planning on getting a good deal on their
existing property will be pleased to hear the latest Land Registry
house price figures, which revealed that accommodation values have
risen by 5.2 per cent over the last year. 