30-4-2010
Equity release offers another option for social care
Responding to Health Secretary’s white paper on Social Care, Andrea Rozario Director General of SHIP, the equity release trade body, stated that whilst they welcomed the white paper "...equity release also offers another option for social care, and widens the range of choices available for domiciliary care. Most importantly it allows people to remain in their homes at a time when they need to feel safe and reassured, without the emotional upheaval of having to sell a home that many have lived in for years".
“Between them the country’s over-65s currently share £907* billion worth of equity in their homes, yet some of these will be unaware that equity release could be used to fund domiciliary care. The Government should consider all retirement funding options, and raise awareness of equity release within these. Whilst we welcome the white paper we urge all political parties, in the run up to the election, to consider equity release as a viable mainstream option for retirees and to raise the general public’s awareness to it.”
Source: Safe Home Income Plan press release 30-4-2010
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