A step-by-step guide to equity release has been produced by Norwich Union (NU), following research r...
A step-by-step guide to equity release has been produced by Norwich Union (NU), following research revealing how poorly educated the over 60s are when making financial decisions.
The study, which surveyed 496 people aged over 60, found more than half had lived in their current home for over 30 years, but did not know its present value. 80% were found to be adverse to moving to a smaller property.
The guide, designed to give impartial information, details how to choose an equity release plan and explains the valuation process.
According to Daren Carter, head of equity release at NU, the guide should encourage customers to consider opting for equity release products. 'Our aim is to help take some of the mystery out of the equity release process by giving the over 60s the confidence to make the right choices to get the most out of their retirement,' he said.
