Recession `will lead to rise in equity release`

As the economic downturn continues, there will be an increase in the number of people - including many with debt problems - who look to equity release as a means of solving their financial problems, it has been suggested.

According to Just Retirement, the recession will lead to heightened interest in such products among people close to pension age who are seeking to fund their retirement.

The firm stated that, due to falls in pension funds and rising unemployment, many people will have retirement funds that are lower than they had hoped for.

David Cooper, marketing and distribution director at Just Retirement, said: "The picture may look bleak for those whose retirement is not currently meeting their expectations but there are options for a good many people and it is important that they get the right advice to help them make the best of what they have."

Tags: equity release, recession

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