Boost your retirement coffers using your home
The government has improved its home equity release scheme to attract more retirees needing extra funds.
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It is no coincidence that the government is increasing the attractiveness of its Pension Loans Scheme at the same time as increasing the number of home care packages.
At some point, everyone who wants to remain living in their own home until the end will need to make a greater contribution to the cost of the services they may receive.
Home equity has been steadily making its way into the government’s retirement funding strategy. The government now has a plan to promote its reverse mortgage offering and get people comfortable with the idea of using some of the money tied up in their property to fund their lifestyle and their government-subsidised home care packages later in life.